Migao Corporation

Migao Corporation

January 20, 2010 10:17 ET

Migao Signs Contract to Distribute Potassium Sulphate From Russia's Rusal

TORONTO, ONTARIO--(Marketwire - Jan. 20, 2010) - Migao Corporation (TSX:MGO), a China-based leading specialty fertilizer producer, today announced an agreement with Russian-based Rusal to import and distribute agricultural-grade potassium sulphate produced from Rusal's alumina factory to China's agricultural market.

The one-year contract is for approximately 12,000 tonnes of agricultural grade potassium sulphate with an option to increase the volume if required. Migao will be distributing the potassium sulphate fertilizer for fruit and vegetable applications in China. 

The potassium sulphate is a by-product from Rusal's Achinsk Alumina Refinery in the Krasnoyarsk region of Russia. The first shipment is to be delivered to Migao in China this month.

"We are very pleased to have an agreement with Rusal, one of Russia's largest and trusted corporations," said Mr. Liu Guocai, Chief Executive Officer of Migao. "Rusal selected Migao to access the Chinese market because of our reputation as an established and respected leader in the Chinese fertilizer market. We expect this relationship to expand after the initial term concludes successfully."

About Rusal
United Company RUSAL (www.rusal.com) is the global leader in the aluminium industry, accounting for approximately 12% and 13% of global production of aluminium and alumina respectively. UC RUSAL employs more than 75,000 people in 19 countries, across 5 continents. UC RUSAL markets and sells its products primarily in the European, Japanese, Korean, South East Asian and North American markets.

About Migao
Since 2003, Migao Corporation, through its wholly owned subsidiaries, produces and distributes specialty potash fertilizer across China for China's agricultural market. Migao Corporation is subject to, and complies with strict government regulations that govern safety, quality and environmental protection. Please visit www.migaocorp.com for further information.

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This news release may include forward-looking statements within the meaning of certain securities laws, including the "safe harbour" provisions of the Securities Act (Ontario) and other provincial securities laws in Canada. These forward-looking statements include, among others, statements with respect to our objectives and goals, and strategies to achieve those objectives and goals, as well as statements with respect to our beliefs, plans, objectives, expectations, anticipations, estimates and intentions. 

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