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| To strengthen Tianyun brand image among the Western part of the PRC and "One Belt One Road" Region |
HONG KONG, Feb 11, 2019 - (ACN Newswire) - Tianyun International Holdings Limited ("Tianyun International", together with its subsidiaries, the "Group") (HKG:6836), a leading seller and manufacturer of processed fruits products in China, is pleased to announce a joint investment with Sichuan Development Holding Company Ltd ("Sichuan Development") of approximately RMB200 million to establish a joint venture company in China. The JV company will make full use of the strengths of each party, the geographical advantage of Sichuan Province and the policy advantage of the "One Belt One Road" policy to develop a supply chain for processed agricultural and food products and a raw materials supply base of international standards.
The JV Company is contemplated to set up a fruit and vegetable processing centre, grading centre and trading centre in Sichuan Province. It also focuses on businesses such as fruit and vegetable grading, fruit and vegetable canning and processing, fruit and vegetable ice cream, fruit and vegetable functional beverage, fruit and vegetable international trade. In addition, the Group expects to accelerate the establishment of sales and wholesale networks in Western China under under its own brand business segment.
Mr. Yang Ziyuan, Chairman and CEO of the Group, said, "We are pleased to establish a JV Company with Sichuan Development. The Group intends to increase its presence in the tropical and sub-tropical climate zone through acquisition and establishment of new production bases, to strengthen its brand image inwestern part of the PRC, and "One Belt One Road" region. The production facilities of the JV Company can increase the production capacity on new and existing processed fruit products such that it enables the Group to meet the divesified demand from different customers.
Sichuan Province is endowed by nature and is an important fruit producing area in the country. It has excellent ecological conditions and diverse climate types, covering temperate, subtropical and tropical climatezones. The Southwestern part of Sichuan Province also has a first-class Pilot Free Trade Zone, international railways and corresponding supporting facilities, forming a core hub for two-way circulation, distribution of import and export commodities and a trade centre at home and abroad.
The establishment of JV Company with Sichuan Development is in line with Tianyun's long-term development goal. With strong capital resources and good reputation of Sichuan Development, we believe that the cooperation is in the mutual interest and to strengthen the business synergies of both parties."
About Sichuan Development Holding Company Limited
Sichuan Development Holding Company Limited is a late model state-owned enterprise in the PRC. It is a wholly-owned company of the Sichuan Provincial People's Government. The level of its consolidated assets exceeds RMB1,000 billion. It is one of the largest state-owned enterprises in Sichuan Province, mainly engaged in financing, investment, and asset management. Its business scopes include transportation, energy, finance, mining, infrastructure and real estate, modern services, strategic emerging industries, etc.
About Sichuan Development International Holding Company Ltd
Sichuan Development International Holding Company Ltd is wholly-owned by Sichuan Development. Established in Hong Kong, it focuses on overseas financing, overseas investment mergers and acquisitions and international open cooperation, the businesses include international aircraft leasing, agricultural food processing, international capital operations, etc.
About Tianyun International Holding Limited (Stock Code: 6863.HK)
Tianyun International Holdings Limited (the "Company") and its subsidiaries (collectively referred to as the "Group") are principally engaged in (i) the production and sales of processed fruit packaged in metal containers, plastic cups, glass containers and aluminium foil bags ii) trading of fresh fruit. Processed fruit products are sold both under our own brands and on an OEM basis.
The Group has been consistently committed to provide healthy and safe products to its customers. As one of the food enterprises with the most complete quality certifications, we have always been dedicated to following stringent international production standards and are accredited with BRC (A+), IFS Food (High), FDA, HALAL, SC, KOSHER, BSCI and ISO22000 in respect of our production facilities, quality control and management. The Group has also passed the internal food production standard reviews and audits from some of the UK and US supermarket chains. At the same time, within China, as a "Equal production line; Equal standard; Equal quality" food production and export enterprise, the Group has been supplying products of equivalent quality to domestic and international markets. Since 2016, the Group's own brand processed fruit products have continued to obtain a high degree of market recognition, and have been awarded by a national institution the honour and qualification of "China Canned Product Quality Certification Label", become the first fruit processor in China's fruit processing industry to put the "Zero Added Preservative Canned Products" label for its products sold in China.
The Group was awarded 2017 China's Most Promising Listed Companies by the internationally renowned financial magazine Forbes and became the only integrated food production and sales enterprise in Linyi City, Shandong Province, which was awarded the "2017 Linyi Mayor Quality Award". The Group's newly researched and developed pure fruit snack food also received the "Certificate of Invention Patent" from the State Intellectual Property Office of the People's Republic of China in 2018.
For more information, please visit www.tianyuninternational.com
Topic: Press release summary
Source: Tianyun International Holding Limited
Sectors: Daily Finance, Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network
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