TORONTO, ONTARIO, Jan 13, 2012 (MARKETWIRE via COMTEX) -- Hanfeng Evergreen Inc.("Hanfeng" or the "Company"), a leading producer and supplier of value-added fertilizer solutions in emerging markets, announced that it has commenced shipments for the previously announced 200,000 metric tons ("MT") in orders for slow and controlled release fertilizers ("SCR") from Heilongjiang Agriculture Co. Ltd. ("HACL"), a member of the Beidahuang Group of Companies ("Beidahuang"). Beidahuang is Hanfeng's largest partner and customer in the China market. Due to the scale of the Beidahuang orders, the Company produced and stockpiled SCR at its Heilongjiang facility from September to December for delivery between January and April. The majority of the current orders are for a hybrid SCR, which incorporates slow and controlled release NPK, micro-nutrients, and nitrogen enhancers, specifically designed and formulated for Beidahuang.
"Agricultural production in northern China is subject to a shorter season than in the south, intensifying the focus on yield and quality enhancement. We elected to partner with Hanfeng, as their products are proven to be high-efficiency and environmentally friendly, which are key elements for grain safety. Utilizing their customized SCR solutions have produced yield increases ranging from 7 percent to 17 percent. We are very pleased with these results and look forward to continuing to grow our relationship with them," stated Mr. Ding Xiaofeng, General Manager of HACL.
"With an annual fertilizer consumption rate of approximately 1.4 million MT and over 5.5 million hectares of land in Heilongjiang province, Beidahuang is China's largest agricultural company and responsible for securing and supplying grain to China's key cities and regions. Beidahuang utilizes some of the most advanced farming techniques in China, including the use of SCR," stated Xinduo Yu, President and CEO of Hanfeng. "As the only recognized SCR producer to partner with Beidahuang, Hanfeng has the potential to service a greater portion of their annual fertilizer demand."
Hanfeng expects to deliver 50 percent to 70 percent of the 200,000 MT ordered during the current quarter, ending March 31, 2012.
About Hanfeng Evergreen Inc.
Hanfeng is a leading producer and supplier of value-added fertilizer solutions in emerging markets. It is the largest producer of slow and controlled release fertilizer in two of world's most significant agricultural markets: the People's Republic of China ("China") and the Republic of Indonesia. As the first company to introduce slow and controlled release fertilizers into China's agriculture market, Hanfeng has established itself both as a market leader and innovator. A Canadian Company, Hanfeng is headquartered in Toronto, Ontario and its shares trade on the Toronto Stock Exchange under the ticker HF.
About Beidahuang Group
Beidahuang Group is a conglomerate of China state-owned agribusinesses based in Harbin, province of Heilongjiang. It is one of China's largest farming companies, and rice millers, controlling approximately 55,000 square kilometers of land area.
Through its subsidiaries, including Heilongjiang Agricultural Co. Ltd., Beidahuang Group controls arable land of over 110 farms spread across 5.5 million hectares (12% of the total area of Heilongjiang province), over 410,000 beef cattle, over 267,000 dairy cows, over 1.3 million breeding sows, over 2 million goats, and over 6.3 million head of poultry. It also controls 54 airports and 30 agricultural aircraft, 198 grain processing centres, 59 seed processing facilities, and over 24,000 tractors. At present, the annual overall grain production capacity has reached 18.2 billion kilograms.
Beidahuang Group is the largest modernized agricultural group in China, and is a major shareholder in Heilongjiang Agriculture Co. Ltd which trades on the Shanghai Stock Exchange. It has a market capitalization is in excess of CAD $2.5 billion.
Other companies within the Beidahuang Group include: Jiusan Grain and Oil, Wondersun Dairy Industry, Beidahuang Rice Industry, Beidahuang Malt Co., Ltd. and other known food producers in China.