DGAP-News: Asian Bamboo AG: Successful start to the bamboo fibre processing project/The Management Board commits to 2015
(firmenpresse) - DGAP-News: Asian Bamboo AG / Key word(s): Miscellaneous/Change of
Personnel
Asian Bamboo AG: Successful start to the bamboo fibre processing
project/The Management Board commits to 2015
17.04.2011 / 15:36
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Hamburg, 17 April 2011 - Asian Bamboo AG ('Asian Bamboo ', the 'Company',
ISIN: DE000A0M6M79, ticker symbol '5AB', ADR trading symbol 'ASIBY'), a
leading integrated company in the bamboo industry, is pleased to announce
the following achievements related to its bamboo fibre processing project
since the launch in March 2011:
* Daily average production of around 70 tonnes
* Total production and sales of more than 1,000 tonnes
* Average price of around RMB 15,000 per tonne (around EUR 1,600 per tonne)
* Signed a five year contract with a key customer in the textile industry
for a yearly supply of 20,000 tonnes at market prices. The price per tonne
will be adjusted on a quarterly basis
Mr. Lin Zuojun, founder and CEO of Asian Bamboo, commented: 'There is a
growing demand for substitutes for cotton and the timing of this project
couldn't have been better. In addition to the key contract already signed,
we are currently negotiating several other long-term supply contracts. The
Management Board is developing detailed plans for the next stage of this
project.'
The Management Board commits to 2015
Asian Bamboo is pleased to announce that all members of the Management
Board have signed new employment contracts, which begin on 1 July 2011 and
end on 30 September 2015.
The Xinrixian Village Development Fund broadens its scope
Asian Bamboo is pleased to announce that its Xinrixian Village Development
Fund ('the Fund') continues to broaden its scope of activities. Recently
the Fund sponsored:
* The purchase of 2,000 books for a library in a primary school in a
village close to Fuzhou
* Medical treatment that helped to save the life of a university student at
the Fujian Agricultural and Forestry University who was diagnosed with
leukemia
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
End of Corporate News
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17.04.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
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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, DE000A0M6M79WKN: A0M6M7, A0M6M7
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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120324 17.04.2011
Datum: 17.04.2011 - 15:36 Uhr
Sprache: Deutsch
News-ID 33805
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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