BEIJING and CLAREMONT, Calif.*, May 20 /Xinhua-PRNewswire/ -- Kiwa Bio-Tech Products Group Corporation (OTC Bulletin Board: KWBT) announced discussions with Beijing Hai Xin Science and Technology Co., Ltd. ("Hai Xin") regarding joint product development and marketing efforts. This May, the Board Chairman of Hai Xin, Mr. Haiming Sun, and Mr. Ming Yang, the CFO, visited Kiwa's Beijing headquarters.
Hai Xin is a high technology enterprise that specializes in mineral resource development of nonmetallic clays and earths in order to enhance the natural functions of the materials. By combining these earths with organic materials, improved bio-feeds and bio-fertilizers can be manufactured for farming operations.
Hai Xin has mineral resource exploitation rights for land that contains over 50,000,000 metric tons of palygorskite. The Company also holds several technology patents for processing palygorskite into feed additive products and agricultural fertilizer products.
Mr. Sun stated, "Hai Xin has determined that Kiwa's bio-fertilizer products and bio-feed products are gaining recognition and market share in China. Meanwhile, by dint of the development strength of China Agricultural University, Kiwa-CAU R&D Centre is a product development leader of China's agricultural technological industry."
Mr. Sun continued, "Hai Xin is examining the feasibility of assigning use of it's patents and technology related to mineral resources to Kiwa with the objective of working together to develop new products to improve farming in China. Hai Xin hopes cooperation with Kiwa to combine our palygorskite products with Kiwa's existing products and the efforts of Kiwa-CAU R&D Centre will allow further development of advanced agricultural products. We hope to work together marketing these products and expanding the marketing position of both companies."
ABOUT KIWA BIO-TECH PRODUCTS GROUP CORPORATION
The Company develops, manufactures, distributes and markets innovative, cost-effective, and environmentally safe bio-technological products for agricultural and natural resources and environmental conservation. The Company's products are designed to enhance the quality of human life by increasing the value, quality and productivity of crops and decreasing the negative environmental impact of chemicals and other wastes. For more information about the Company, please review documents filed with the SEC (www.sec.gov) or visit the Company's website at http://www.kiwabiotech.com .
* Effective today, Kiwa's California office has moved to: 310 N. Indian
Hill Blvd., #702, Claremont, CA 91711
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
