SOURCE: Agria Corporation

Agria Corporation

May 19, 2015 08:30 ET

Agria Establishes Strategic Cooperation With Guiyang Government

BEIJING, CHINA--(Marketwired - May 19, 2015) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria") refers to its earlier announcement on May 15 establishing the Agria-Lincoln Partnership and today announces that it has established a five year cooperation agreement with the city government of Guiyang, the capital of Guizhou province in China, to modernize agricultural production in the area.

With the support of the Guiyang government, Agria will take active measures to implement modernized agricultural technology to Guiyang with the goal of contributing to Guiyang's agricultural modernization efforts as well as its overall economic development. The potential market opportunity is significant for Agria as the population in Guizhou province exceeds 34 million residents while Guiyang's population is close to 3 million residents.

Under the cooperation agreement, the two parties intend to cooperate on a number of development and modernization initiatives in and around Guiyang that include:

  • The development of a China-New Zealand free trade demonstration park;
  • The development of seed and livestock demonstration farms;
  • Local government support for Agria to import its advanced agricultural technology, especially in livestock, into Guizhou;
  • Participation including joint investments with relevant state-owned enterprise in promoting trade and investment activities;
  • Setting up agricultural finance and trading businesses;
  • Setting up a development fund to invest in local agricultural enterprises; and
  • Educational exchange, vocational and professional training services.

Mr. Alan Lai, Agria's Executive Chairman, commented, "We are pleased to partner with the Guiyang government to assist with their agricultural development and modernization efforts in the region. This high level of cooperation with the support of the Guiyang Government will facilitate technology and economic exchange between China and New Zealand. We are excited to play our role in contributing to the economies of both countries. Our efforts will be supported by key partners, including Lincoln University, to provide relevant technology, training and education support to the Guiyang initiative."

A signing ceremony will occur on May 19th to commemorate this announcement. Key representatives at this event include Agria's Executive Chairman, Mr. Alan Lai, Standing Committee Member of The Provincial Government of Guizhou and Party Secretary of Guiyang Municipality, Mr Chen Gang and Lincoln University representative, Professor Bruce MacKenzie.

Lincoln University's Vice-Chancellor, Dr. Andrew West, added, "We are thrilled to be involved in this project with Agria and look forward to contributing our applied commercial agriculture research and development capabilities to this project."

About Agria Corporation
Agria (NYSE: GRO) is a global agricultural company with three principal business segments: Seed and Grain; Crop Protection, Nutrients and Merchandise; and Rural Services. The Seed and Grain segment is engaged in research and development, production and sale of a broad range of seed products and trading of seed and grain products globally. The Crop Protection, Nutrients and Merchandise segment operates an extensive chain of retail stores that supply farm input materials. The Rural Services segment provides livestock trading, wool trading, irrigation and pumping, real estate agency and other agriservices. For more information about Agria Corporation, please visit www.agriacorp.com.

Safe Harbor Statement:
This announcement contains forward-looking statements. These statements, including the management's commentary, are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Agria may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on Forms 20-F and 6-K, etc., in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Agria's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, those risks outlined in Agria's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this announcement unless otherwise stated and Agria does not undertake any obligation to update any forward-looking statement, except as required under applicable law.