BEIJING and LOS ANGELES, Dec. 11 American Dairy, Inc. (NYSE: ADY); ("American Dairy" or the "Company"), one of the leading producers and distributors of premium infant formula, milk powder and soybean, rice and walnut products in China, today announced the appointment of Mr. Zhang Guilang ("Oliver") as the new Head of Sales and Marketing, effective immediately.
Mr. Zhang joined American Dairy in May 2009 as special assistant to the Company's CEO and has been working closely with the CEO in developing sales and marketing strategies before transitioning to this position. Mr. Zhang has more than 15 years of experience in sales and marketing. From 2001 to 2006, Mr. Zhang served as General Manager of Want-Want China Holdings' ("Want-Want") Want Zai (Hot Kid) business. Under his leadership, Want Zai grew its annual revenue from RMB300 million in 2002 to RMB 3 billion in 2006, becoming China's number one dairy drinks company in terms of net profits for four consecutive years since 2003. His experience also includes serving in various managerial positions in Want-Want from 1992 to 2001. Mr. Zhang received his Bachelor's Degree in Economics from National Chung Hsing University in Taiwan and his EMBA from Tsinghua University in Beijing.
"We are pleased to welcome Mr. Zhang as the new Head of Sales and Marketing. His rich experience with multinational companies and profound understanding of the Chinese dairy market will enable us to further build on our strong foundation with improved international 'best practices' and compete more effectively with foreign competitors on a larger scale than ever before. We believe 2010 will be a very important year for the dairy market, which makes Mr. Zhang's addition to the team all the more valuable. With his expertise, we feel confident that we will be able to drive our growth in 2010 and beyond," stated Mr. Leng You-Bin, Chief Executive Officer of American Dairy.
Mr. Nie Bo has resigned to pursue other interests. The Company thanks Mr. Nie for his dedication and contribution during his tenure and wishes him great success in his future endeavors.
About American Dairy, Inc.
American Dairy, Inc. (NYSE: ADY) is one of the leading producers and distributors of premium infant formula, milk powder, and soybean, rice and walnut products in the People's Republic of China. American Dairy conducts operations in China through its wholly owned subsidiary, Feihe Dairy, and other subsidiaries. Founded in 1962, Feihe Dairy is headquartered in Beijing, China, and has processing and distribution facilities in Kedong, Qiqihaer, Baiquan, Gannan, Longjiang, Shanxi, and Langfang. Using proprietary processing techniques, American Dairy makes products that are specially formulated for particular ages, dietary needs and health concerns. American Dairy has over 200 company-owned milk collection stations, two dairy farms, six production facilities with an aggregate milk powder production capacity of approximately 1,220 tons per day and an extensive distribution network that reaches over 90,000 retail outlets throughout China. For more information about American Dairy, please visit http://www.americandairyinc.com.
Cautionary Note Regarding Forward-Looking Statements
This document contains forward-looking information about the Company's operating results and business prospects that involve substantial risks and uncertainties. Statements that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements include, but are not limited to, statements about the Company's plans, objectives, expectations, strategies, intentions or other characterizations of future events or circumstances and are generally identified by the words "may," "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "targets," "could," "would," and similar expressions. Because these forward-looking statements are subject to a number of risks and uncertainties, the Company's actual results could differ materially from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the heading "Risk Factors" in the Company's annual report on Form 10-K for the fiscal year ended December 31, 2008, quarterly report on Form 10-Q for its third quarter in 2009, and in current reports on Form 8-K filed with the United States Securities and Exchange Commission and available at www.sec.gov. The Company assumes no obligation to update any such forward-looking statements.
CONTACTCompany Beijing Office:86-10-6431-9357ICR, Inc.:In the New York: Ashley M. Ammon: 1-646-277-1227In Beijing: Wei-Jung Yang: 86-10-6599-7968
SOURCE American Dairy, Inc.