HONG KONG, July 8, 2004 (PRIMEZONE) -- New Dragon Asia Corp. (AMEX:NWD) today announced its flour products have received Grade A certification by the China Green Food Development Center, an organization solely authorized by the Chinese government to issue the "green" and organic label to food producers.
The green food label in China is equivalent in concept to the organic food program in the United States, with specific standards and restrictions in terms of environmental considerations and the application of fertilizers and pesticides.
"This certification recognizes the tremendous importance we place on producing the highest quality products for our retail and commercial customers. As our customer base expands in and outside of China, the green food label is particularly important. In addition, it is an opportunity to further highlight our premium product quality and social responsibility," said Heng Jing Lu, chief executive officer.
About The Company
Headquartered in Shandong Province, P.R.C., with a corporate office in Hong Kong, New Dragon Asia Corp. is engaged in the milling, sale and distribution of flour and related products, including instant noodles, to retail and commercial customers throughout China. The company markets its well-established product line through a network of 216 key distributors and 16 regional offices in 27 Chinese provinces with an aggregate production capacity of approximately 110,000 tons of flour and more than 1.1 billion packages of instant noodles.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations or beliefs, including, but not limited to, statements concerning the company's operations and financial performance and condition. For this purpose, statements that are not statements of historical fact may be deemed to be forward-looking statements. The company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the impact of competitive products and pricing; changes in consumer preferences and tastes or perceptions of health-related issues; effectiveness of advertising or market-spending programs; market or weather conditions that may affect the costs of grain, other raw materials and fuel; the impact of labor matters; changes in laws and regulations; fluctuations in foreign exchange and interest rates; risks commonly encountered in international trade; and other factors as those discussed in the Company's reports filed with the Securities and Exchange Commission from time to time.