Migao Commences Production at the Yunnan Plant Located in Luliang, Yunnan Province, China
February 3, 2014 (Source: Marketwired) — Migao Corporation (TSX:MGO), a China based specialty potash fertilizer producer, celebrated the opening of the first 100,000 metric tonnes per annum chloride-free complex fertilizers (NPK) production line at the Migao facility in Luliang, Yunnan, China with a ribbon cutting ceremony. The facility’s production is primarily intended for the fast growing Chinese specialty fertilizer market.
The commission of the JV’s first NPK line comes as Chinese farmers ready themselves for what is traditionally the busiest planting season of the year – spring planting starting from February-March.
A 60,000 tonnes per annum potassium nitrate (NK) production unit and a second 100,000 tonnes per annum NPK line are currently under construction and expected to be launched later this year.
Mr. Guocai Liu commented that “We are very pleased to commence our first production line in Yunnan for the agricultural industry in this province and look forward to our planned expansion in the future.”
The facility will produce up to 60,000 tonnes of NK and up to 200,000 tons of NPK per annum.
About Migao Corporation
Migao Corporation, through its wholly owned subsidiaries, owns and operates fertilizer production plants in various strategic locations across China for the production and sale of specialty potash fertilizer (potassium nitrate and potassium sulphate) to China’s agricultural market. Migao Corporation is subject to, and complies with strict government regulations that govern safety, quality and environmental protection.
CAUTION BY MIGAO CORPORATION REGARDING FORWARD╦ùLOOKING STATEMENTS
This news release may include forward╦ùlooking statements within the meaning of certain securities laws, including the “safe harbour” provisions of the Securities Act (Ontario) and other provincial securities laws in Canada. These forward╦ùlooking statements include, among others, statements with respect to our objectives and goals, and strategies to achieve those objectives and goals, as well as statements with respect to our beliefs, plans, objectives, expectations, anticipations, estimates and intentions. The words “may”, “will”, “could”, “should”, “would”, “suspect”, “outlook”, “believe”, “plan”, “anticipate”, “estimate”, “expect”, “intend”, “forecast”, “objective”, and “continue” (or the negative or grammatical variations thereof), and words and expressions of similar meaning, are intended to identify forward╦ùlooking statements.
By their very nature, forward╦ùlooking statements involve inherent risks and uncertainties, both general and specific, which give rise to the possibility that predictions, forecasts, projections and other forward╦ùlooking statements will not be achieved. Certain material factors or assumptions are applied in making forward╦ùlooking statements and actual results, performance or achievements may differ materially from those expressed or implied in such statements. We caution readers not to place undue reliance on forward╦ùlooking statements as a number of important factors, many of which are beyond our control, could cause actual results, performance or achievements to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward╦ùlooking statements. These factors that relate to our company include, but are not limited to: risks related to raw materials; execution of the business plan; expansion plans; dependence on key personnel; key relationships; dependence on key customers; dependence on key suppliers; competition; market factors and volatility of commodity prices; environmental risks and hazards; operating risks; proprietary rights; infrastructure; future capital requirements; technical substitution; exchange rate fluctuations; insurance; foreign operations; tobacco industry considerations; weather conditions and natural disasters; control by management; seasonality; dividends; conflicts of interest; global financial conditions; and the implementation of the Labour Contract Law in the People’s Republic of China in 2008. In addition to the foregoing risk factors, there are also risks related to doing business in China which include, but are not limited to: state ownership; government sector intervention; foreign investment; repatriation of profit and currency conversion; tax; shareholders’ rights and enforcement of judgements; developing legal system; protection of intellectual property rights; permits and business licenses; appropriation; and availability of land. Should one or more of these factors materialize, or should our estimates or underlying assumptions prove incorrect, actual results, performance or achievements may vary materially from those described in forward╦ùlooking statements.
We caution that the foregoing list of important factors that may affect our future results, performance or achievements is not exhaustive. When reviewing our forward╦ùlooking statements, readers should carefully consider the foregoing factors and other uncertainties and potential events. Additional information about factors that may cause actual results to differ materially from expectations, and about material factors or assumptions applied in making forward╦ùlooking statements, may be found under the “Risk Factors” sections in our Annual Information Form and annual MD&A and elsewhere in our filings with Canadian securities regulatory authorities. Except as required by Canadian securities laws, we do not undertake to update any forward╦ùlooking statements, whether written or oral, that may be made from time to time by us or on our behalf; such statements speak only as of the date made. We cannot assure readers that actual results, performance and achievements will be consistent with these forward╦ùlooking statements, and the differences may be material. The forward╦ùlooking statements included herein are expressly qualified in their entirety by this cautionary language.
Raj Shah has been a member of the InvestorIntel.com team for the last nearly 9 years. Recruited from Merrill Lynch, he has over 13 years’ ... <Read more about Raj Shah>