Bookmark and Share

China Agritech, Inc. (CAGC) Achieves 2009 Sales Target of 80,000 Metric Tons of Organic Granular Fertilizer

BEIJING /PRNewswire-Asia-FirstCall/ — China Agritech, Inc. (Nasdaq: CAGC) (“China Agritech”, or the “Company”), a leading national organic fertilizer manufacturer and distributor in China, today announced that it has achieved its 2009 goal of selling 80,000 metric tons of its new organic granular fertilizer products.

The Company successfully implemented its plan to introduce new organic granular fertilizer products during the 2009 second quarter, which not only solidified China Agritech’s organic fertilizer branding and geographic penetration in China, but also propelled the sales growth of its classic liquid organic fertilizer. These encouraging results validate China Agritech’s earlier decision to complete 200,000 metric tons of granular fertilizer capacity in diversified locations in China, and attract leading partners such as Sinochem and Odyssey Trading to accelerate the Company’s growth.

Mr. Yu Chang, Chairman and Chief Executive Officer of China Agritech, commented, “We are very pleased to reach this new milestone as our new granular product expansion progresses as we expected. In addition, we are bullish on the prospects for 2010. As a pure-play organic fertilizer producer in the vast Chinese agricultural market, where green products are encouraged by the government, we believe our further growth is sustainable and rapid.”

About China Agritech, Inc.

China Agritech, Inc. is engaged in the development, manufacture and distribution of liquid and granular organic compound fertilizers and related products in China. The Company has developed proprietary formulas that provide a continuous supply of high-quality agricultural products while maintaining soil fertility. The Company sells its products to farmers located in 28 provinces of China.

For more information about the Company, please visit .

Safe Harbor Statement

This release may contain certain “forward-looking statements” relating to the business of China Agritech and its subsidiary companies, which can be identified by the use of forward-looking terminology such as “believes,” “expects,” “anticipates,” “estimates” or similar expressions, including, but not limited to, statements regarding the continued demand for China Agritech’s products, China Agritech’s ability to sustain growth for the balance of the year and China Agritech’s ability to generally meet all of its objectives. Such forward-looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to product development, marketing, concentration in a single customer, raw material costs, market acceptance, future capital requirements, and competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the SEC. Except as required by law, China Agritech is under no obligation to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

Wednesday, December 23rd, 2009 Uncategorized
Top Small Cap Market News