– CHINA, Tianhe – Sino Agro Food, Inc. (OTCQB: SIAF) 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.
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. 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.
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