JUNAN COUNTY, China,
June 5, 2015 /PRNewswire/ --
American Lorain Corporation
(NYSE MKT: 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's previously announced cultivation plan
of new chestnut cultivar is well ahead of schedule. To date, the
total acreage of our new chestnut cultivar has reached over 1,666
acres (or 10,000 mu), with the Company operating about 50% of the
planted acreage and our local farmer partners operating the
remaining acreage. We expect to enter harvesting season for the new
chestnut cultivar in 2016.
As previously announced in 2014, American Lorain has
successfully developed a new cultivar of chestnuts comparable to
the European chestnut, after five years of internal research and
development efforts. The new chestnut cultivar features larger
size, longer storage life, better taste and sweetness, easier
processing and higher quality. Since its launch, the new chestnut
cultivar has been well received by both the farming community and
Chinese government. Various local governments not only provided
strong policy support, but also granted about US$400,000 in subsidies for planting and
promoting the new chestnut cultivar. The Company will continue to
work with all parties and plans to double the planted acreage of
new chestnut cultivar within the next 1-2 years.
Mr. Si Chen, Chairman and CEO of American Lorain, commented,
"We are very pleased to see the
early result of 1,666 acres of cultivation for the new cultivar of
chestnuts, which is nine months ahead of our original plan. Once
those chestnuts are harvested, we plan to ship them to our factory
in France which we acquired last
year for further processing, and sell the finished chestnut
products to the European market. This will not only greatly enhance
our profit margin, as Europe has one of highest prices for chestnut
products in the world, but also allow us to raise the public
awareness of the Lorain brand in the European market."
Contact:
Johnny Zhou
Tel. : +86 13917303401
E-mail: johnny.zhou@usalr.cn
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SOURCE American Lorain
Corporation