NEW YORK and SHANDONG, China, Jan. 19, 2011 (GLOBE NEWSWIRE) -- Sabre Industrial, Inc. (OTCQB:SBRD) (OTCQB:BEER) ("Company"), a Shandong-based leading manufacturer and distributor of brewer's malt and beer throughout northern and eastern China, today announced that FINRA has approved a name change and ticker symbol change for the Company effective at the open of trading today. The Company is now officially named Tsingyuan Brewery Ltd. and will trade on the OTCQB under the new symbol "BEER."
Dingyou Zhang, Chairman and Chief Executive Officer, commented, "We are very pleased to complete our name change to Tsingyuan Brewery Ltd. and adopt a new stock ticker in the U.S., 'BEER,' reflecting the nature of our business. We look forward to executing on our business plan in 2011 following our strong performance in 2010. Most recently, we announced a 388% increase in revenue to $18.5 million for the third quarter of 2010, which exceeded our combined sales for the entire first half of 2010. We attribute this strong performance to both increased market share, and rapid growth within the Chinese beer industry due to increased discretionary consumer spending, especially in the second and third-tier cities."
About Tsingyuan Brewery Ltd.
Tsingyuan Brewery Ltd., located in Shandong province, is a leading manufacturer and distributor of brewer's malt and beer throughout northern and eastern China. Tsingyuan Brewery Ltd. has two business lines: brewer's malt and beer production. The brewer's malt is currently shipped to brewers in ten provinces across China. The beer products are distributed throughout six provinces, and are well-renowned for their high quality yet affordable price. The Company utilizes the latest German brewing techniques and uses the highest quality barley, water and hops. Tsingyuan Brewery Ltd. promotes nine products under its trademarked brand names "Qinglin," "Qingyi," and "Qingyuan."
This release contains certain "forward-looking statements" relating to the business of the Company. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements except as required under applicable law.