Yangling, Shaanxi— (October 22, 2018)––Kiwa Bio-Tech Products Group Corp. (OTCQB: KWBT) (“Kiwa Bio-Tech” or “the Company”), an emerging agricultural company that develops, manufactures and sells bio-fertilizers is pleased to announce that the Company has received approval from the Yangling Free Trade Zone in China to obtain land for the construction of a manufacturing facility to meet the US$16 billion-dollar growing demand for bio-fertilizers in China over the next 5 years.
The manufacturing facility will specialize in developing and producing Kiwa Bio-Tech’s core microbes, the fundamental components for making high-quality bio-fertilizers. The facility will have a production capacity of 60,000 tons of Kiwa Bio-Tech’s core microbes with an annual production value estimated to be over US$65 million dollars (approximately 462 million RMB).
“We are undertaking to open the manufacturing facility for production in 2020,” stated Ms. Yvonne Wang, CEO of Kiwa Bio-Tech. “We chose the Yangling Free Trade Zone because of the significant agricultural planting areas in Shaanxi Province that cover approximately 66,000 hectares of high-value farmland that generate an annual fertilizer market opportunity of approximately US$140 million. Moreover, the Yangling government has more than 300 demonstration planting bases covering approximately 4.4 million hectares, which generate an approximately US$7.8 billon USD microbial fertilizers every year. As the leader in bio-fertilizer industry in China, we view this as a significant step toward developing eco-friendly agriculture in these planting bases.”
The facility will include fermentation and production terminals, agricultural produce sorting facilities and storage, a research and development institute and corresponding ancillary facilities. Yangling Free Trade Zone will also offer Kiwa Bio-Tech over US$400,000 in incentives and provide tax preferences for the first three years of production.
About Kiwa Bio-Tech Products Group Corp.
Leader in Eco-friendly Agricultural Industry Chain
Kiwa Bio-Tech Products Group Corp. (KWBT) is a publicly traded company with corporate headquarters in the United States. The company develops, manufacture, markets and distributes innovative and environmentally safe bio-technological products for agriculture. Kiwa’s focus is to positively impact the environment by reducing the amount of chemicals that are being used by agricultural growers in China.
Kiwa Bio-Tech Products Group corp. products are covered by patent protection and are designed to enhance the quality of human life by increasing the value and productivity of agricultural crops.
For more information on Kiwa Bio-Tech Products Group Corp. or its bio-fertilizer products and smart soil remediation technology, please refer to the Company’s website at www.kiwabiotech.com or the Company filings with the United States Securities and Exchange Commission at www.sec.gov.
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 U.S. 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’s actual results may differ materially from those anticipated in the forward-looking statements depending on a number of risk factors including, but not limited to, the following: general economic, business and environment conditions, development, shipment, market acceptance, additional competition from existing and new competitors, changes in technology, the execution of its ten-year growth plan, the foreign exchange risk amid the unexpected announcements by the PRC government and various other factors beyond the Company’s control. Kiwa Bio-Tech Products Group Corp. 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.
Kiwa Bio-Tech Products Group Corporation
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