American Lorain Corporation Announces Change in State of Incorporation to Nevada
18 November 2009 - 3:12PM
PR Newswire (US)
JUNAN COUNTY, China, Nov. 18 /PRNewswire-Asia-FirstCall/ --
American Lorain Corporation (NYSE Amex: ALN), an international
processed foods company based in Shandong Province, People's
Republic of China, announced that it has changed its state of
incorporation from Delaware to Nevada, effective November 12, 2009.
The Company expects to save money as a result of the
reincorporation, since Nevada requires no franchise taxes and does
not levy a corporate income tax. The provisions of the Nevada
Revised Statutes and the existing case law dealing with Nevada
corporations generally are considered favorable to management. For
details concerning the differences between Delaware and Nevada law
and other implications of the redomicile, please refer to the
Definitive Information Statement on Schedule 14C filed with the
U.S. Securities and Exchange Commission on October 13, 2009, and
mailed to the Company's shareholders. The reincorporation will not
result in any change in the Company's business, management, assets
or liabilities. About American Lorain Corporation American Lorain
Corporation is a Nevada corporation that develops, manufactures and
sells various food products. The Company's products include
chestnut products; convenience foods products (including
ready-to-cook foods, ready-to-eat foods, and meals-ready-to-eat);
and frozen, canned and bulk foods products. The company currently
sells over 234 products to 26 provinces and administrative regions
in China as well as to 42 foreign countries. The Company operates
through its four direct and indirect subsidiaries and one leased
factory located in China. For more information about American
Lorain, please visit our website at http://www.americanlorain.com/
. Forward-Looking Statements Statements contained herein that
relate to the Company's future performance, including statements
with respect to forecasted revenues, margins, cash generation and
capital expenditures are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Such statements involve a number of risks, uncertainties and
contingencies, many of which are beyond our control, which may
cause actual results, performance or achievements to differ
materially from those anticipated. Such statements are based on
current expectations only, and are subject to certain risks,
uncertainties and assumptions. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those
anticipated, estimated or projected. Among the factors that could
cause actual results to materially differ include: general business
and economic conditions, particularly the current downturn in the
worldwide economy; our ability to obtain adequate supplies of raw
materials; our ability to manage our expansion strategy; changes in
foreign currency exchange rates; government regulation;
difficulties in new product development; changing consumer tastes
in disparate markets worldwide and our ability to address those
changes; our ability to attract and retain highly qualified
personnel; and other factors affecting our operations that are set
forth in our Annual Report on Form 10-K for the year ended December
31, 2008 filed with the Securities and Exchange Commission. The
Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. For more information, please contact:
At the Company: Alan Jin, CFO American Lorain Corporation Tel:
+86-539-731-7959 Email: Web: http://www.americanlorain.com/
Investor Relations: Jon Cunningham RedChip Companies Tel:
+1-800-733-2447 x107 Email: Web: http://www.redchip.com/
DATASOURCE: American Lorain Corporation CONTACT: At the Company,
Alan Jin, CFO of American Lorain Corporation, +86-539-731-7959, ;
or for Investor Relations, Jon Cunningham of RedChip Companies,
+1-800-733-2447 x107, or , for ALN Web Site:
http://www.americanlorain.com/
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