American Lorain Corporation Announces Cooperation with TaiMei Potato Industry Ltd. in China
LINYI, China, Jan. 11, 2016 /PRNewswire/ — American Lorain Corporation (NYSE MKT: ALN) (“American Lorain” or the “Company”), an international processed snack foods, convenience foods, and frozen foods company based in Shandong Province, China, today announced the cooperation with TaiMei Potato Industry Ltd. (“TaiMei Potato”), acquired by the world's leading potato products supplier Lamb Weston in 2014. Both of the companies have reached an agreement that TaiMei Potato will help to manufacture the Lorain brand french fries.
In 2015, the Company decided to diversify and enrich the categories of its potato products to fulfill the needs of different preferences. One of the strategies is to procure potatoes domestically in China and labeled as a Lorain branded product. TaiMei Potato is a well-respected company with a strong background and solid manufacturing capabilities. The products include straight cut fries, mashed potato, and wedges etc. TaiMei Potato has the production line which is capable of producing 10 tons of chips per hour, this is currently one of the most advanced in China.
Mr. Si Chen, Chairman and CEO of American Lorain, commented, “We all find it so exciting to work with TaiMei Potato in China. American Lorain has been working on the potato product segment for many years. We have maintained substantial resources and experience, and we are very confident with TaiMei Potato becoming our OEM factory and providing us with high-quality products,”Mr. Si Chen added, “American Lorain will have TaiMei Potato manufacture about 2000 tons of regular french fries at this time. But we do see more potential opportunities in the future for both companies. We believe this cooperation would not only help us implement the strategy, but also create more opportunities to expand Lorain branded products overseas.”
About American Lorain Corporation
American Lorain Corporation (NYSE: ALN) is China's leading chestnut, convenience food product and frozen food product manufacturer. The company currently has 13 world-class standards of food production lines, which can supply more than 200 products. For domestic trade, it has more than thirty offices, with its sales network covering large cities, medium-size cities and coastal cities all over China. Regarding international trade, the products are exported to more than 40 countries and regions, such as Japan, South Korea, Taiwan, Southeast Asia and Europe, which provides our company a high reputation in the international market. For more information on American Lorain Corporation, please visit: http://en.usalr.cn/index.html.
About TaiMei Potato Industry Ltd.
TaiMei Potato Industry Ltd. is a large potato processing enterprises integrated with potato cultivation, acquisition, storage, processing and sales. TaiMei Potato was indirectly acquired by ConAgra Foods, Inc. through Lamb Weston in 2014. TaiMei Potato will continuously manufacture and process potato products and sell under the brand Lamb Weston in China. For more information on TaiMei Potato, please visit: http://www.lambweston.com.cn
About Lamb Weston
Lamb Weston, a leading supplier of frozen potatoes, sweet potatoes, appetizers and other vegetables products, is committed to provide quality products and service for its customers. For more information on Lamb Weston, please visit: http://www.lambweston.com/
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “to be,” “expects,” “anticipates,” “believes,” “estimates,” or similar expressions, involve known and unknown risks and uncertainties. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond American Lorain's control, which may cause American Lorain's actual results, performance or achievements to differ materially from those in the forward-looking statements. Actual results or events may differ from those anticipated or predicted in this press release, and the differences may be material. Further information regarding these and other risks, uncertainties or factors is included in American Lorain's filings with the U.S. Securities and Exchange Commission. American Lorain does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
SOURCE American Lorain Corporation