-- SIAF Explores Beef Operation Acquisition: KPMG to Consult
GUANGZHOU, China, May 14, 2015 /PRNewswire/ -- Sino Agro Food, Inc. (OTCQB: SIAF, also referred to herein as "SIAF" or the "Company") is an integrated, diversified agriculture technology and organic food company with principal operations as primary producer, processor, and marketer of protein foods in the People's Republic of China ("PRC").
The Company is delighted that Mr. Peter Rosta has accepted the position of Chairman of the Board of its beef subsidiary, Qinghai Sanjiang A Power Agriculture Development Co. Ltd. ("SJAP"). Mr. Rosta has a wealth of experience and relationships in both Sweden and China, where he has resided for the past 20 years. He is a partner in Euro China Capital AB in Sweden, and Director of the Swedish Chamber of Commerce in China. He also serves as Director of several companies based in Europe and Asia, both private and public. Formerly, for five years, he served as Trade Commissioner and Head of the Swedish Trade Council in China and Hong Kong.
The Xining Government has recommended that SJAP participate in the acquisition of two beef subsidiaries of a state owned enterprise, The Sanjiang Group ("SG"). SG is one of the largest agriculture companies in China, with total assets over $15 Billion. Established in 1958, the two subsidiaries have long-term contracts with the government, and have shown good operating profits. SIAF has engaged Burnham Securities to assist in analyzing operating synergies and efficiencies of the potential transaction.
In addition, the Company has engaged KPMG to conduct financial due diligence on the merger and acquisition of the two subsidiaries, as well as further consulting work at SJAP with the aim to become its official auditor in 2016.
CEO Solomon Lee commented, "These new developments bode well for refocusing expanding operations at SJAP. They also validate and advance our strategic corporate efforts. Mr. Rosta is a welcome addition to our team."
Mr. Rosta reflected, "I look forward to directing strategic initiatives at SJAP. Like its parent company, SJAP faces a host of exciting opportunities we intend to realize and bring to appreciation in Asia and Europe.
"SIAF is already well ahead of the food safety standards stipulated by the Chinese government. We have set our sights much higher, aiming to become an international leader in best practices for food sustainability and environmentally friendly food production."
About Sino Agro Food, Inc.
Sino Agro Food, Inc. is an agriculture technology and natural food holding company with principal operations in the People's Republic of China. The Company acquires and maintains equity stakes in a cohesive portfolio of companies that SIAF forms according to its core mission to produce, distribute, market and sell natural, sustainable protein food and produce, primarily seafood and cattle, to the rapidly growing middle class in China. SIAF provides financial oversight and strategic direction for each company, and for the interoperation between companies. The Company owns or licenses patents, proprietary methods, and other intellectual properties in its areas of expertise. SIAF provides consulting and services to joint venture partners to construct and operate food businesses, primarily producing wholesale protein foods. Further joint ventures market and distribute the wholesale products as part of an overall "farm to table" concept and business strategy.
News and updates about Sino Agro Food, Inc., including key information, are published on the Company's website (http://www.sinoagrofood.com) and the Company's Facebook page (www.facebook.com/SinoAgroFoodInc)
Forward Looking Statements
This release may contain forward-looking statements relating to the business of SIAF and its subsidiary companies. All statements other than historical facts are forward-looking statements, which can be identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. These statements involve risks and uncertainties that may cause actual results to differ materially from those anticipated, believed, estimated or expected. These risks and uncertainties are described in detail in our filings with the Securities and Exchange Commission. Forward-looking statements are based on SIAF's current expectations and beliefs concerning future developments and their potential effects on SIAF. There is no assurance that future developments affecting SIAF will be those anticipated by SIAF. SIAF undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
Not a Broker/Dealer or Financial Advisor
Sino Agro Food, Inc. is not a Registered Broker/Dealer or a Financial Advisor, nor does it hold itself out to be a Registered Broker/Dealer or Financial Advisor. All material presented in this press release, on the Company's website or other media is not to be regarded as investment advice and is only for informative purposes. Readers should verify all claims and conduct their own due diligence before investing in Sino Agro Food, Inc. Investing in small-cap, micro cap and penny stock securities is speculative and carries a high degree of risk.
No Offer of Securities
None of the information featured in this press release constitutes an offer or solicitation to purchase or to sell any securities of Sino Agro Food, Inc.
SOURCE Sino Agro Food, Inc.