DEG Disburses American Lorain the Second Tranche of $15 Million Loan

JUNAN COUNTY, China, Jan. 31, 2011 /PRNewswire-Asia-FirstCall/ -- American Lorain Corporation (NYSE Amex: ALN) ("American Lorain" or the "Company"), an international processed snack foods, convenience foods, and frozen foods company based in the Shandong Province, China, today announced that on January 28th, 2011, DEG has disbursed the second tranche of its loan to American Lorain in the amount of $10 million.

American Lorain signed the loan agreement with DEG on May 31, 2010. The total amount of the loan with DEG is $15 million, the first tranche of $5 million has been disbursed on December 13, 2010. The loan has a term of 5 years and commencing from the full disbursement, the interest rate will be fixed at 5.51% per annum.

Mr. Si Chen, Chairman and CEO of American Lorain commented: "We are very pleased to see the loan with DEG finally approved and disbursed. DEG is a German financial institution dedicated to providing debt and equity financing for quality enterprises in developing counties. The final approval of the loan reflected the trust and support this rigorous German institution has in American Lorain. The loan also comes in very attractive rate, which we believe will well serve to support American Lorain's business and thus maximize shareholder value."

About DEG

DEG (Deutsche Investitions- und Entwicklungsgesellschaft) translates into German Investment Corporation. Founded in 1962, DEG is headquartered in Cologne, Germany and is a member of KfW Bank Group (KfW Bankengruppe), a German government-owned development bank based in Frankfurt. It finances investments of private companies in developing and emerging economies. As one of Europe's largest development finance institutions, it promotes private business structures to contribute to sustainable economic growth and improved living conditions in these countries. For more information, please visit http://www.deginvest.de/EN_Home/index.jsp or www.kfw.de.

About American Lorain Corporation

American Lorain Corporation products include chestnut products, convenience food products and frozen food products. The Company currently sells over 234 products to 26 provinces and administrative regions in China as well as to 42 foreign countries. The Company operates through its five 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.

SOURCE American Lorain Corporation

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED