DGAP-News: Asian Bamboo plans to invest in a bamboo trading centre and new processing plants for bamboo shoots
(firmenpresse) - Asian Bamboo AG / Key word(s): Miscellaneous
12.11.2010 06:00
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Hamburg, 12 November 2010 - Asian Bamboo AG ('Asian Bamboo', 'the Company',
ISIN: DE000A0M6M79, ticker symbol: '5AB', ADR ticker symbol 'ASIBY'), a
world-leading integrated company in the bamboo industry, is pleased to
announce that it has received the approval from the local government in
Shaowu City to establish what it believes is the first ever bamboo trading
centre ('trading centre') in China. The trading centre, a physical market
comprising around 6 hectares, is located in Shaowu, close to many of the
Company's plantations. Total investment in the trading centre is estimated
at around EUR 2.7 million (RMB 25 million) and the Company expects a yearly
trading volume of more than 70 million trees, on which a fee of 1% of the
transaction amount will be levied.
In addition, the Company plans to move its existing fine processing plant
in Mawei to Longyan and build two additional raw processing plants there.
The new processing plants for bamboo shoots are located closer to the
Company's plantations and labour costs are expected to be lower. In
addition, the Company's overall annual production capacity of processed
bamboo shoots will increase from the current level of 1.4 million cans to
1.8 million cans. The total investment is approximately EUR 3.9 million
(RMB 36 million) and production is expected to commence in the second half
of 2011.
Lin Zuojun, CEO and founder of Asian Bamboo, commented: 'We expect that the
bamboo trading centre will improve distribution and pricing of bamboo trees
and create a more transparent pricing mechanism.'
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
12.11.2010 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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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 München, Berlin, Düsseldorf, Stuttgart
End of Announcement DGAP News-Service
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Datum: 12.11.2010 - 06:00 Uhr
Sprache: Deutsch
News-ID 32577
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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