Beijing, China
May 14, 2008
Origin Agritech Limited
(NASDAQ GS: SEED) (“Origin”), a leading technology-focused
supplier of crop seeds and agribiotech research in China,
announced today that the production and distribution facility in
Chengdu and other provinces and cities experienced no serious
damage from the recent earthquake in China’s Sichuan province
and there was no personnel casualties.
Origin has a production and distribution facility in Chengdu
that includes a hybrid rice and corn seed conditioning plant.
The facility also possesses a seed testing laboratory and 4,000
square meters of administrative offices. Currently, we are
paying close attention to the situation of the affected area and
will actively take action to deal with the disaster when
necessary.
Founded in 1997 and headquartered in Beijing, Origin Agritech
Limited (NASDAQ: SEED) is one of China’s leading,
vertically-integrated agricultural technology company
specializing in agri-biotech research, development and
production to supply the growing populations of China. Origin
develops, grows, processes, and markets crop seeds to farmers
throughout China and parts of Southeast Asia via a network of
approximately 3,800 first-level distributors and 65,000
second-level distributors. The hybrid seed industry is estimated
at US$2 billion and that is expected to double by 2010. The
Company currently operates facilities in 30 of China’s 32
provinces as well as Beijing. Since Origin launched its first
entirely internally developed seed in 2003, the Company has
developed and commercialized an internally developed proprietary
seed portfolio of twelve corn hybrids, twelve rice hybrids and
two canola hybrids as of 2007. |
|
