Kiwa Bio-Tech Announces Signed Agreement For Increased Fertilizer Production in China
Claremont, , CA - (WORLD STOCK WIRE) - June 27, 2017 -- Kiwa Bio-Tech Products Group Corporation (OTCQB: KWBT) ("Kiwa" or the "Company"). On June 8, 2017, Kiwa signed an equity purchase agreement with Yantai Peng Hao New Materials Technology Co., Ltd in Penglai city, Yantai apple's main producing area, in Shandong, China. The agreement relates to the acquisition of a new factory (which is currently idle) for a purchase price of RMB 15 million (approximately US$2.2 Million). The factory covers an area of 5.9 acres, with eight thousand square meters of standardized steel plant.
The factory to be acquired by Kiwa will be completed in accordance with Kiwa's construction plan to facilitate the production design of combining of microbial fermentation and terminal fertilizer products. When fully implemented, the factory will produce approximately 200,000 tons of Kiwa fertilizer products every year, primarily for sale to the Yantai fruit cultivation base.
Mr. Yi Wang, Director of Agriculture Department of Penglai City, attended the signing ceremony and welcomed Kiwa's investment in the construction of bio-fertilizer production bases in Penglai. Mr. Wang observed that "Penglai City is the main apple growing area in China. Due to excessive consumption of chemical fertilizers in recent years, the soil of Penglai region has been faced with issues, which we believe that the use of Kiwa's biological fertilizer production base will ameliorate -- resulting in an improvement of the soil quality and quality of fruit and production in Penglai. We strive to have Penglai fruit quickly become the best brand of Chinese fruit products.
About Kiwa Bio-Tech Products Group Corporation
Kiwa Bio-Tech Products Group Corporation develops, manufactures, distributes, and markets innovative, cost-effective and environmentally safe bio-technological products for agricultural and environmental conservation. The Company's products are designed to enhance the quality of human life by increasing the value, quality and productivity of crops and decreasing the negative environmental impact of chemicals and other wastes.
Kiwa is dedicated to eco-agricultural development and environmental control by developing, producing, and selling bio-technological products with high technology, low-cost, and high productivity to satisfy the growing market demand. Kiwa's development is creating a standardized and ecologically safe agricultural industry chain platform. The Company's development effort is based in China, and has gradually expanded to the international market.
Kiwa uses new bio-technological skills at its core, with organic, ecologically sound, and "green" practices as its theme. The Company strives for customer satisfaction and continued development. Kiwa is dedicated to making safe food, further developing eco-agriculture and upholding a responsibility of contributing to China's agricultural safety, food safety, and a healthy lifestyle.
For more information on Kiwa and its products, please refer to the Company's website at www.kiwabiotech.com or the Company filings with the United States Securities and Exchange Commission, available for free at www.sec.gov
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the U.S. Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
kiwa Bio-Tech Products Group Corp.
310 N. Indian Hill Blvd.
Claremont, , CA 91711
Phone: 626) 715-5855
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