DGAP-News: Asian Bamboo leases 1,733 ha of bamboo plantations/Asian Bamboo enters strategic partnership with Shunchang Xinchen
(firmenpresse) - Asian Bamboo AG / Contract
07.06.2010 00:01
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Hamburg, 7 June 2010 - Asian Bamboo AG ('Asian Bamboo', 'the Company',
ISIN: DE000A0M6M79, ticker symbol: '5AB', ADR ticker symbol 'ASIBY'), a
world-leading producer of bamboo trees and organic bamboo shoots, is
pleased to announce that it has signed a lease agreement for a bamboo
plantation with a total size of 1,733 hectares (ha).
The plantation, located in Longyan in Fujian Province, is being leased for
20 years and Asian Bamboo will pay a total fee of around EUR 7.3 million
(RMB: 61.2 million), translating into a leasing fee per hectare of EUR
6,312 (RMB: 52,650). The terms of this lease are similar to those of
previous leases. Around 30% of the lease fee will be paid in Q2 2010 and
the balance when the harvesting rights are transferred later in the year.
The plantation is expected to start generating output in Q1 2011.
Lin Zuojun, CEO and founder of Asian Bamboo, commented: 'Securing new
plantation leases is the foundation of our business model. Including this
plantation lease, we now have a total plantation size of 40,851 ha, of
which 27,943 ha are mature plantations. Consequently, we have achieved our
year end target of a total plantation size of 40,000 ha. From here on, our
focus will be on reaching our longer term goal of a total plantation size
of 70,000 ha within the shortest possible time frame.'
Asian Bamboo enters strategic partnership with Shunchang Xinchen
Asian Bamboo is pleased to announced that it has entered into a strategic
partnership agreement ('the agreement') with Shunchang Xinchen Bamboo
Products Co., Ltd. ('Shunchang Xinchen' or 'the company'), a producer of
embryonic bamboo plates which are used as input material for bamboo
flooring production.
As part of the agreement, Asian Bamboo will supply one million bamboo trees
to the company this year, which is roughly equivalent to two thirds of the
Shunchang Xinchen's total annual demand. In addition, Asian Bamboo will
support the company's business development by providing management support
and expertise.
Lin Zuojun, CEO and founder of Asian Bamboo, commented: 'We are excited
about entering into this strategic partnership with Shunchang Xinchen,
which will further increase the demand for our bamboo trees.'
For enquiries, please contact:
Asian Bamboo AG:
Peter Sjovall +852-9385 3868
Chief Financial Officer
Anja Holst +49-(0)40 37644 798
Investor Relations Manager
07.06.2010 00:01 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: Asian Bamboo AG
Stadthausbrücke 1-3
20355 Hamburg
Deutschland
Phone: +49 40 37644 798
Fax: +49 40 37644 500
E-mail: info(at)asian-bamboo.de
Internet: www.asian-bamboo.de
ISIN: DE000A0M6M79, DE000A0M6M79
WKN: A0M6M7, A0M6M7
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------------
Datum: 07.06.2010 - 00:01 Uhr
Sprache: Deutsch
News-ID 22003
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 254 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Asian Bamboo leases 1,733 ha of bamboo plantations/Asian Bamboo enters strategic partnership with Shunchang Xinchen"
steht unter der journalistisch-redaktionellen Verantwortung von
Asian Bamboo AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
