Hanfeng Evergreen Inc.

Hanfeng Evergreen Inc.

April 04, 2011 07:00 ET

Hanfeng Appoints Niral Merchant as Chief Financial Officer

TORONTO, ONTARIO--(Marketwire - April 4, 2011) - Hanfeng Evergreen Inc. ("Hanfeng" or the "Company") (TSX:HF), a leading provider of value-added fertilizers in China and South East Asia, today announced that Niral V. Merchant has been appointed Chief Financial Officer ("CFO") effective immediately. Mr. Merchant will replace Paul Begin whose resignation and transition was announced in a news release dated February 11, 2011.

Mr. Merchant is a Chartered Accountant with broad international experience in both public accounting and executive level financial management positions across multiple industries. Most recently, Mr. Merchant served as the CFO for Royal Laser Corp., a TSX listed steel fabrication and distribution company, which was acquired in 2010. Mr. Merchant holds the Chartered Financial Analyst designation from the CFA Institute, USA. He is a graduate of INSEAD where he completed his Masters of Business Administration, primarily on the Singapore campus, and the University of Toronto with an Honours Bachelor of Commerce degree. Mr. Merchant is a qualified part-time lecturer in the fields of accounting and finance with the Edinburgh Business School at Heriot-Watt University in Scotland.

"On behalf of the board and management of Hanfeng, I want to welcome Niral to our team," stated Xinduo Yu, President and CEO of Hanfeng. "His extensive capital markets and international business experience will serve us well as we continue to expand our business in China and South East Asia."

About Hanfeng Evergreen Inc.

Hanfeng is the largest producer of slow and controlled release fertilizers in China. It was the first company to introduce the concept of slow and controlled release fertilizers into China's agriculture market with its establishment of the first commercial scale production in China. The Company's production facilities are located in prime agricultural regions of China. Hanfeng has recently completed its first production facility outside China. Located in Surabaya, Indonesia, the facility will service the growing South East Asian market. Hanfeng is headquartered in Toronto, Ontario and its shares trade on the Toronto Stock Exchange. www.hanfengevergreen.com

This press release contains forward-looking statements based on current expectations. Forward looking statements include, without limitation, statements evaluating market and general economic conditions, and statements regarding growth strategy and future-oriented projected revenue, costs and expenditures. Actual results could differ materially from those projected and should not be relied upon as a prediction of future events. A variety of inherent risks, uncertainties and factors, many of which are beyond Hanfeng's control, affect the operations, performance and results of Hanfeng and its business, and could cause actual results to differ materially from current expectations of estimated or anticipated events or results. Some of these risks, uncertainties and factors include the impact or unanticipated impact of: current, pending and proposed legislative or regulatory developments in the jurisdictions where Hanfeng operates, in particular in China and the Republic of Indonesia; changes in tax laws; political conditions and developments; intensifying competition from established competitors and new entrants in the fertilizer industries; technological change; currency value fluctuation and changes in foreign exchange restrictions; changes in Chinese government support or restrictions on foreign investment; general economic conditions worldwide, as well as in China and South East Asia; Hanfeng's success in developing and introducing new products and services, constructing and operating new manufacturing facilities, expanding existing distribution channels, developing new distribution channels and realizing increased revenue from these channels. This list is not exhaustive of the factors that may affect any of Hanfeng's forward-looking statements. Risks and uncertainties about Hanfeng's business are more fully discussed in the Company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada. Hanfeng undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results or for any other reason. Readers are cautioned not to put undue reliance on forward-looking statements.

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