SOURCE: AgFeed Industries, Inc.

January 22, 2008 06:30 ET

AgFeed Industries Names Renowned Animal Genetics Scientist as Vice President of Technology

AgFeed Is Well Positioned for Growth in China's Hog Raising Industry

NANCHANG, JIANGXI PROVINCE, CHINA--(Marketwire - January 22, 2008) - AgFeed Industries, Inc. (NASDAQ: FEED), a leading premix animal nutrition and hog producer in China, announced today that Dr. Jinfeng Yuan has joined the Company as Vice President of Technology in charge of breeder hog development.

Songyan Li, Ph.D., AgFeed's Chairman, commented: "Dr. Yuan is a leading scientist in the breeder hog farm industry with an accomplished background in advanced animal genetics science. Dr. Yuan has completed years of research work in this critical field. His leadership of our research efforts will further strengthen AgFeed's position as one of China's foremost research centers for producing premium breeder hogs."

Dr. Jinfeng Yuan said: "AgFeed is well positioned to benefit from its in-depth knowledge of both hog raising and premix feed production. As AgFeed continues to derive strong synergies between its animal feed and hog farm businesses, I am honored to be part of AgFeed's continued success."

Dr. Yuan is also in charge of R&D efforts at LuShan Breeder Hog Farm ("LuShan"), a subsidiary of AgFeed which has recently been designated as one of the "National Breeder Hog Center" by the Chinese government. Dr. Yuan is leading LuShan's R&D team in the following areas: 1) using innovative genetic improvement techniques and BLUP evaluation method to produce elite swine breeding stock; 2) selection of quality breeder pigs according to their reproductive traits, growth rate, carcass characteristics, meat quality and anti-virus breeding.

About Jinfeng Yuan, Ph.D.

Dr. Yuan earned a Ph.D. degree in animal genetics from Huazhong Agricultural University and the University of Cambridge. His research area is focused on animal genetics and breeding, veterinary, molecular biology, statistics and bioinformation science. He has studied at PIC (the international leader in providing genetically superior pig breeding stock) research lab at the University of Cambridge, Tianzhong Breeder Pig Company (one of China's top breeder hog companies) and World Wildlife Fund (WWF) China. He was involved in a number of key research projects including BBSRC (UK), China's "863" Program -- China's Top National High-tech R&D Program and Hubei International Collaboration Project. He is the first scientist in China to have discovered the 12 biomarkers for selecting genetic difference in resistance / susceptibility to animal disease and improving reproductive traits in swine. His research achievements have been published in the following peer journals: Journal of Animal Genetics and Breeding, Animal, Chinese Journal of Agricultural Biotechnology, Journal of Animal, Chinese Journal of Animal Biotechnology Bulletin, Agricultural Sciences in China and Acta Biologica Hungarica.

About AgFeed Industries, Inc.

AgFeed is a U.S. public company listed on the NASDAQ Global Market. Through its operating subsidiaries in China, AgFeed is a market leader in China's fast growing premix animal nutrition industry. AgFeed has also entered into China's hog raising industry since 2007 through multiple acquisitions. The premix market in which Agfeed operates is an approximately $1.6 billion segment of China's animal feed market, an industry which generated approximately $40 billion in 2006, according to the China Feed Industry Association. There are over 530 million hogs raised in China each year, compared to approximately 100 million in the U.S. Approximately 65% of China's annual meat consumption is pork.

Safe Harbor Statement

All statements in this press release that are not historical are forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that actual results will not differ from the company's expectations. AgFeed's actual results may differ from our projections. Further, preliminary results are subject to normal year-end adjustments. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect AgFeed's current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in AgFeed's filings with the Securities and Exchange Commission.

Contact Information

  • Contact:

    Investor Relations:
    The Global Consulting Group
    Mr. Dixon Chen / Kevin Theiss
    Tel: 646-284-9409

    Company Contact:
    AgFeed Industries, Inc.
    Mr. Sam Zhou
    Corporate Development
    Tel: 011-86-13925912908