American Lorain Adds 1,190 Lorain®-branded Counters for Three Chestnut Products
JUNAN COUNTY, China, Nov. 2, 2010 /PRNewswire-Asia-FirstCall/ -- American Lorain Corporation (NYSE Amex: ALN) ("American Lorain" or the "Company"), an international processed snack foods and convenience foods manufacturer based in Shandong Province, China, today announced that it has expanded its Lorain®-branded counters for its three chestnut products including Bottom Open Chestnut, Roasted Chestnut and Roasted Sweet Chestnut to 1,190 by the end of September 2010.
American Lorain Corporation sells over 50 branded chestnut products across 24 provinces in China. As of September 30, 2010, Lorain®-branded counter number for the Company's Bottom Open Chestnut, introduced experimentally last year, and Roasted Chestnut, introduced this year, reached 513 and 428, respectively. Counter number for Roasted Sweet Chestnut reached 249 as of September 30, 2010 as compared to 179 as of December 31, 2009. These branded counters are located primarily in supermarkets, including Wal-Mart, Carrefour, Trust-Mart, and Lotus, mid-sized supermarkets such as Times Supermarkets and Anyang Supermarkets, and small retail stores, including Family Mart, Circle K and QUIK convenient stores. American Lorain is also in discussions with other retail partners to distribute these three chestnut products.
An integral part of the growth strategy for chestnuts is to add Lorain®-branded counters in supermarket locations. With minimal one-time investment in equipment, American Lorain is able to market and promote existing, new and seasonal products to its customers throughout the year. The Company believes the majority of sales done through its branded counters are incremental, given its convenient location within the supermarket.
"We are pleased with the solid progress we are making in our retail distribution growth strategy," said Mr. Si Chen, Chairman and CEO of American Lorain. "With strong demand heading into our strongest seasonal selling period for chestnuts, we look forward to achieving our target of 1,500 Lorain®-branded counters for these three products by the end of the year," concluded Chairman Chen.
About American Lorain Corporation
American Lorain Corporation is a Nevada corporation that develops, manufactures and sells various food products. The Company's products include chestnut products, convenience food products and frozen food products. The Company currently sells over 230 products to 26 provinces and administrative regions in China as well as to 42 foreign countries. The Company operates through its four direct and indirect subsidiaries and one leased factory located in China. For further information about American Lorain Corporation, please visit the Company's website at http://www.americanlorain.com .
Forward-looking statements:
Statements contained herein that relate to the Company's future performance, including statements with respect to forecasted revenues, margins, cash generation and capital expenditures are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance or achievements to differ materially from those anticipated. Such statements are based on current expectations only, and are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Among the factors that could cause actual results to materially differ include: general business and economic conditions, particularly the current downturn in the worldwide economy; our ability to obtain adequate supplies of raw materials; our ability to manage our expansion strategy; changes in foreign currency exchange rates; government regulation; difficulties in new product development; changing consumer tastes in disparate markets worldwide and our ability to address those changes; our ability to attract and retain highly qualified personnel; and other factors affecting our operations that are set forth in our Annual Report on Form 10-K for the year ended December 31, 2009 filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For more information, please contact: |
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At the company: |
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American Lorain Corporation |
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Tinghao Fu |
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Tel: +86-539-7317959 |
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Email: [email protected] |
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Investor relations: |
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John Mattio, SVP |
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HC International, New York |
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Tel: +1-203-616-5144 |
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Email: [email protected] |
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SOURCE American Lorain Corporation
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