JUNAN COUNTY, China,
June 2, 2011
/PRNewswire-Asia-FirstCall/ -- American Lorain Corporation (NYSE Amex: ALN)
("American Lorain" or the "Company"), an international processed
snack foods, convenience foods, and frozen foods company based in
Shandong Province, China, today announced that the Company has
signed a Joint Venture Agreement ("JV Agreement") with Hot &
Roll Holdings Sdn Bhd ("Hot & Roll"), and Munchy Food
Industries Sdn. Bhd ("Munchy's") to jointly explore the quick
service restaurant market in China. Under the JV Agreement, Hot & Roll,
American Lorain and Munchy's will hold 51%, 30% and 19% of the
Joint Venture Company, respectively. The total initial investment
will be approximately $150,000, or
RMB 1 million.
Hot & Roll is a fast growing kiosk chain from Malaysia specialized in paratha wraps and
crispy wraps. It was founded in 2008 by Mr. John Madsen, former CEO of Carlsberg Brewery
Malaysia Berhad, and Kawan Food Berhad ("Kawan Food"), Malaysia's leading exporter and largest
manufacturer of frozen Asian food delicacies. Hot & Roll
already has over 60 directly owned and franchised stores in
Malaysia. According to the JV
Agreement, Hot & Roll will introduce the successful management
and training expertise into China;
American Lorain will leverage the network of its 36 branch offices
to provide support on recruiting, market development, logistics,
and make experiments to introduce its rice and pickle products into
the Hot & Roll stores in China. Kawan Food will supply some of the raw
materials through its factory located in Nantong, Jiangsu Province in China. The Joint Venture Company will operate
both directly owned and franchised stores with the first set of
directly owned stores opening in Shanghai, Suzhou, Hangzhou, and Shandong.
American Lorain's Chairman and CEO, Mr. Si Chen, stated, "Hot
& Roll is a fast growing kiosk chain specialized in Malaysian
style foods. I believe this joint venture will be able to leverage
the strength of all the parties on market development, products,
and operations to achieve growth. More importantly, we can also
explore the possibilities to introduce American Lorain's products
into the Hot & Roll kiosks in China to capitalize on these channels. We are
looking forward to a positive development of the joint
venture."
About American Lorain Corporation
American Lorain Corporation products include chestnut
products, convenience food products and frozen food products. The
Company currently sells over 240 products to 26 provinces and
administrative regions in China as well as to 42 foreign
countries. The Company operates through its five direct and
indirect subsidiaries and one leased factory located in China.
For further information about American Lorain Corporation,
please visit the Company's website
at http://www.americanlorain.com.
About Hot & Roll Holdings Sdn Bhd
Hot & Roll is a fast growing kiosk chain from Malaysia specialized in paratha wraps and
crispy wraps. It was founded in 2008 by Mr. John Madsen, founder of Micro & Macro
Approach Sdn. Bhd. and former CEO of Carlsberg Brewery Malaysia
Berhad, and Kawan Food Berhad ("Kawan Food"), Malaysia's leading exporter and largest
manufacturer of frozen Asian food delicacies. It currently operates
over 60 directly owned and franchised kiosks in Malaysia. For more information about Hot &
Roll, please visit www.hotandroll.com. For more information about
Mr. John Madsen, please visit
http://www.mma.com.my/cv.htm. For more information about Kawan
Food, please visit http://www.kawanfood.com.
About Munchy Food Industries Sdn. Bhd
Munchy Food Industries Sdn. Bhd. is Malaysia's first-class confectionery producer.
Its products currently export to Australia, Bangladesh, China, Hong
Kong, Indonesia,
Japan, Mauritius, Middle
East countries, Mongolia,
Nepal, Oman, Philippine, Singapore, South
Africa, Taiwan,
Thailand, The United States, etc. For more information
about Munchy's, please visit www.munchys.com.
For more information, please
contact:
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At the Company:
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American Lorain
Corporation
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Mr. David She, CFO
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+86-10 8411 3393
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david.she@americanlorain.com
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Web: http://www.americanlorain.com
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SOURCE American Lorain
Corporation