Attached files
| file | filename |
|---|---|
| 8-K - Deyu Agriculture Corp. | v207686_8-k.htm |
| EX-10.1 - Deyu Agriculture Corp. | v207686_ex10-1.htm |
FOR
IMMEDIATE RELEASE
Deyu
Agriculture Appoints New CFO and Secretary of the Board of
Directors
BEIJING, China – January 10, 2011
--Deyu Agriculture Corp. (OTC Bulletin Board: DEYU), a vertically
integrated producer, processor, marketer and distributor of organic and other
agricultural products made from corn and grains, today announced the appointment
of Charlie Lin as Chief Financial Officer and Michael Han as Secretary of the
Board of Directors.
“We are
pleased that Mr. Lin has joined our management team,” said, Mr. Jianming Hao,
Chairman and Chief Executive Officer of Deyu Agriculture. “He has significant
experience in financial management, strategic planning, operations and
manufacturing. We believe that Mr. Lin’s background and skill set will
significantly benefit Deyu and our shareholders as we continue to implement our
growth strategies.”
Mr. Lin
said, “Deyu has many exciting opportunities ahead as it addresses growing demand
for natural, green, and organic foods in China and pursues its strategy of
becoming a higher value added grain based food processing company. I am pleased
to join Deyu and look forward to leading the finance team and working with
Deyu’s investors.”
Prior to
joining Deyu Agriculture, Mr. Lin was Corporate Controller for Microfabrica
Inc., a leading developer of micro devices, where he was the senior
executive in charge of the company’s accounting and finance, strategic planning,
corporate finance and investor relations activities. Previously, he served as
divisional CFO at Ricon Corporation, a division of Wabtec Corporation, a
manufacturer of equipment and components for the rail and public transit
industry. At Rincon, Mr. Lin was responsible for leading the company’s
transition from private to public ownership and for its corporate development
activities. He also held financial and operational management positions at two
contract manufacturing companies. Mr. Lin, who is a CPA and CMA, graduated from
the University of Wisconsin with a BS and an MS in Accounting.
Mr. Lin
replaces David Lethem, who resigned to pursue other opportunities. “We would
like to thank Mr. Lethem for his valuable service to Deyu and wish him the best
in his future endeavors," said Mr. Hao.
Deyu also
announced today that Michael Han will join its Board of Directors as Secretary.
“Mr. Han is a strong addition to our Board of Directors,” said Mr. Hao. “He
brings a wealth of experience having held various senior level positions at
industry leading electronics and industrial companies. His deep expertise in
manufacturing, human resources, sales and finance will benefit Deyu as we
continue to execute on our growth plans in the coming years.”
Mr. Han
has over 18 years of professional experience. Most recently, he was Vice
President of Administration at General Circuits Beijing Ltd., a subsidiary of
Vivace Semiconductor, He also held a position as a senior sales executive at
Shougang NEC Electronics Co., Ltd. and a senior engineer at the China
state-owned steel manufacturing company, Shougang Corporation. Mr.
Han has an MBA from Tsinghua University and a BS from the College of Beijing
Iron & Steel Technology.
About
Deyu Agriculture
Deyu
Agriculture Corp. is a vertically integrated producer, processor, marketer and
distributor of organic and other agricultural products made from corn and grains
operating in the Shanxi Province of the People’s Republic of China. Deyu has
access to over 109,000 acres of farmland in the Shanxi Province for breeding,
cultivating, processing, warehousing, and distributing grain and corn products.
Deyu has an extensive retail distribution network of more than 10,000 retail
stores across China. Deyu Agriculture’s web site is located at www.deyuagri.com.
Safe
Harbor Statements
This
press release contains forward-looking statements made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward
looking statements are based upon the current plans, estimates and projections
of Deyu Agriculture's management and are subject to risks and uncertainties,
which could cause actual results to differ from the forward looking statements.
Such statements include, among others, those concerning market and industry
segment growth and demand and acceptance of new and existing products; any
projections of sales, earnings, revenue, margins or other financial items; any
statements of the plans, strategies and objectives of management for future
operations; any statements regarding future economic conditions or performance;
uncertainties related to conducting business in China, as well as all
assumptions, expectations, predictions, intentions or beliefs about future
events. Therefore, you should not place undue reliance on these forward-looking
statements. The following factors, among others, could cause actual results to
differ from those set forth in the forward-looking statements: business
conditions in China, general economic conditions; geopolitical events and
regulatory changes, availability of capital, changes in the agricultural
industry, the Company’s ability to maintain its competitive position. Additional
Information regarding risks can be found in the Company's Quarterly Report on
Form 10-Q and in the Company's recently filed Prospectus filed pursuant to Rule
424(b)(3) with the SEC.
Investor
Inquiries:
Company
Contact:
Charlie
Lin, Chief Financial Officer
Deyu
Agriculture Corp.
Tel:
+1-626-242-5292
E-mail:
charlie@china-deyu.com
Investor
Relations Contact:
Larry
Clark, Senior Vice President
Financial
Profiles, Inc.
Tel:
+1-310-478-2700 ext. 29
E-mail:
lclark@finprofiles.com