Yasheng Group Completes First Industrial Hemp Shipment to the United States
February 26 2014 - 8:00AM
Marketwired
Yasheng Group Completes First Industrial Hemp Shipment to the
United States
REDWOOD CITY, CA--(Marketwired - Feb 26, 2014) - Yasheng Group
(OTCQB: HERB), a high-growth diversified China-based agricultural
conglomerate with U.S. headquarters in Redwood City, California,
today announced that it has successfully completed its first
shipment of hulled hemp seeds to the United States.
The delivery marks an important step in an agreement made last
year between Hemp Inc. of Las Vegas, Nevada and Yasheng to contract
farm approximately 600 mu of hemp in China for import to the U.S.
Yasheng is currently preparing to ship the remaining output of the
crop in the form of fiber, chaff and hulled seeds. The two
companies are currently negotiating a new contract for the 2014
planting season.
Yasheng is expanding its industrial hemp production in response
to growing worldwide demand for the crop based on the high
nutritional value of the seeds and the antimicrobial properties of
the plant's fiber. Hemp production is also increasingly attractive
due to the lack of need for pesticides or herbicides, and the
relatively small amount of water and fertilizer required for
cultivation.
According to The Hemp Industries Association, 2012 retail sales
for hemp products in the US exceeded $500 million. It is estimated
that there are more than 25,000 products on the global market today
made from hemp materials.
In February of 2014, Yasheng established Hemp Route Limited, a
subsidiary created to manage the international distribution of its
hemp products.
Yasheng Group
Yasheng Group, founded over 30 years ago, is a US holding
company that conducts primarily agricultural operations in the
Northwest of China. Today it is one of China's leading producers
and marketers with six major product segments including field
crops, vegetables, fruit, specialty crops, hops, hemp, seeds, beef
and poultry. Yasheng is a supplier of high-quality agricultural
products to world-famous conglomerates such as McDonald's, KFC,
Tsingtao Beer, and Pepsi. The company is led by a highly qualified
management team and has total assets of approximately $2 billion,
over 15,000 employees, and a history of strong sales and earnings
growth. Please visit our website www.yashenggroup.com and register
to receive future press releases directly.
Safe Harbor Statement
Except for the historical information contained herein, certain
matters discussed in this press release are forward-looking
statements which involve risks and uncertainties. These
forward-looking statements are based on expectations and
assumptions as of the date of this press release and are subject to
numerous risks and uncertainties, which could cause actual results
to differ materially from those described in the forward-looking
statements. These risks and uncertainties are discussed in the
company's various filings with the Securities and Exchange
Commission. The company assumes no obligation to update these
forward-looking statements.
Yasheng (PK) (USOTC:HERB)
Historical Stock Chart
From Dec 2024 to Jan 2025
Yasheng (PK) (USOTC:HERB)
Historical Stock Chart
From Jan 2024 to Jan 2025