SHISHI, China, June 1 /PRNewswire-Asia/ -- China Marine Food Group Limited (NYSE: CMFO) ("China Marine" or the "Company"), a China-based manufacturer of Mingxiang(R) seafood-based snack foods, "Hi-Power" marine algae-based beverages, and distributor of frozen marine catch, today announced they have secured product placements for a selection of its flagship seafood snack foods at more than 500 convenience chain stores located throughout the Guangdong province.
Beginning in March of 2010, China Marine collaborated with their Guangdong-based distributor on a roll out of several squid and octopus packaged snack foods at a select group of stores and has expanded the program to almost the entire store network in Guangdong. An inventory of barbecued squid, sliced barbecued squid and sliced roasted octopus packaged snack foods are held at China Marine's distributor for restocking each store location on a monthly basis. Sales to each store have increased at a steady rate since the program's inception.
Product sales and marketing are supported by a combination of seafood-based snack food flyers and posters in each store location. Printed marketing materials advertise China Marine's seafood snack foods as a healthy, protein-rich snack food with the benefits of deep-sea harvested seafood. The products are prominently featured on the store's "end-cap" displays in the snack-food isles in each store.
"Global convenience store chains are a welcome addition to our customer base," began Pengfei Liu, Chairman and CEO of China Marine. "As international and China-based convenience stores expand their respective footprints in China, we are targeting this channel as one of our key growth conduits. In each instance where we achieved product placements in convenience stores, our team has demonstrated that our production and distribution capabilities can meet customer needs. Our goal with our current and prospective convenience store chains is to continually expand our product offering while driving incremental revenues through all store locations."
About China Marine
China Marine Food Group Ltd. is a food and beverage manufacturer of Mingxiang(R) seafood-based snack foods and "Hi-Power" marine algae-based health drinks, and a wholesaler of frozen marine catch in seven provinces in the PRC. Founded in 1994, China Marine has grown steadily and positioned its Mingxiang(R) brand as a category leader in 2,900 retail sales points in the PRC. The Company has received "The Famous Brand" and "Green Food" awards. Located in the Fujian province, it is one of the largest coastal provinces in the PRC and a vital navigation hub between the East China Sea and the South China Sea. The Company is committed to the highest standard of quality control with the ISO9001, ISO14001, HACCP certification and EU export registration.
Forward Looking Statements
This release contains certain "forward-looking statements" relating to the business of China Marine Food Group Limited and its subsidiary companies, which can be identified by the use of forward-looking terminology such as "believes, expects" or similar expressions. 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, 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 Securities and Exchange Commission. China Marine Food Group Limited is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
For more information, please contact:
Company
Mr. Marco Hon Wai Ku, CFO
China Marine Food Group Limited
Suite 815, 8th Floor
Ocean Centre, Harbour City
Kowloon, HONG KONG
Tel: +852-2111-8768
Email: marco.ku@china-marine.cn
Web: http://www.china-marine.cn
Investor Relations
John Mattio, SVP
HC International, Inc.
Tel: +1-203-616-5144 (US)
Email: john.mattio@hcinternational.net
Web: http://www.hcinternational.net
