BEIJING and CLAREMONT, Calif., July 16, 2010 (GLOBE NEWSWIRE) -- Kiwa Bio-Tech Products Group Corporation (OTCBB:KWBT) today provided an update on its fertilizer business for the initial planting season of 2010.
More and more Chinese consumers are seeking organic and green food products increasing the market for products like Kiwa's bio-fertilizers. The China Green Food Association of the Agriculture Ministry has certified several Kiwa bio-fertilizer products as "Green Food CGFA Recommend Brands."
To exploit this market opportunity Kiwa is working closely with Kangtai and San Kang Safe Agricultural Distribution Network Project (San Kang Club). Kangtai (former ChinaStar Investment Group) was founded in 1999 in Beijing and as far back as 2002 has invested in Kiwa Bio-Tech Products Group Corporation. Over the past three years Kangtai has worked with different community governments to build the market for green agricultural products.
During the Summer of 2010 this focus has led to a prototype vegetable delivery model to satisfy high-end customers demand for better food. Kangtai has contracted to grow food in fields only fertilized with Kiwa Bio-Tech's fertilizers and is delivering these products directly to customers in Beijing. There are only a small number of customers using this service currently, but it is hoped this business can be expanded in the future as the distribution process can be made most efficient.
Mr. Wei Li, Chairman of Kiwa Bio-Tech noted, "During past years, Kangtai, a private company registered under Chinese law, has been lending funds to Kiwa to support Kiwa's development."
Mr. Li added, "Kangtai advertises its use of Kiwa's fertilizer products in order to develop Kangtai's safe agricultural products business. This has also helped create better awareness and perception of the Kiwa brand name, and has helped Kiwa in the difficult market conditions caused by the global recession."
The Company also stated that it expects to file the second quarter 10Q report with the Securities and Exchange Commission by mid-August 2010.
ABOUT KIWA BIO-TECH PRODUCTS GROUP CORPORATION
The Company develops, manufactures, distributes and markets innovative, cost-effective, and environmentally safe bio-technological products for agricultural and natural resources and environmental conservation. The Company's products are designed to enhance the quality of human life by increasing the value, quality and productivity of crops and decreasing the negative environmental impact of chemicals and other wastes. For more information about the Company, please review documents filed with the SEC (www.sec.gov) or visit the Company's website, www.kiwabiotech.com.
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.