REDWOOD CITY, CA--(Marketwired - Apr 16, 2014) - Yasheng Group (OTCQB: HERB) a high-growth diversified China-based agricultural company with US headquarters in California, today announced:
Yasheng Group and Natural Capital Investment Ltd (formerly known as Lemco Investments) are delighted to announce that following the change of name of the latter's operation (now referred to as "Natcap") and in accordance with the spirit of the Memorandum of Understanding and the Joint Venture Term Sheet it had entered into with Yasheng Group in 2013, they have now adjusted all the relevant documentation accordingly to reflect the change of name and the two companies are taking all the necessary steps to complete the relevant documentation to be able to start a joint operation to conduct the acquisition, development and commercialisation of land-based assets representing high value both in terms of income and positive eco-social impacts in the developing world, Latin America in particular.
The proposed joint venture that now enters into its final phase aims to set a unique landmark model of sustainable development led by a private initiative which has the prospect of being both profitable and socially responsible. It shall aim to secure access to land and exclusive commercial rights on assets such as timber, agriculture, forestry carbon, minerals, aquaculture and environmental services, amongst others.
The announced joint venture, once completed, will for the first time facilitate the fostering of avoided deforestation and reforestation initiatives through the prospective trading of forestry carbon credits in the far east, China in particular, thereby procuring a sound solution for the reduction and/or offsetting of carbon emissions and at the same time securing an effective contribution to the protection of thousands of hectares of forests under threat and the survival of the communities and ecosystems who are entirely dependent on those forests.
As expressed before, this is a true unprecedented opportunity to put together the impressive track record of Yasheng Group in industrial agriculture and the expertise of the group at Natcap in providing and securing effective sustainable land use and exclusive commercial rights in key biogeographic areas around the world.
Dr Ivan Guevara
Yasheng Group, founded over 30 years ago, is a US holding company that conducts primarily agricultural operations in the Northwest of China. Today it is one of China's leading producers and marketers with six major product segments including field crops, vegetables, fruit, specialty crops, hops, hemp, seeds, beef and poultry. Yasheng is a supplier of high-quality agricultural products to world-famous conglomerates such as McDonald's, KFC, Tsingtao Beer, and Pepsi. The company is led by a highly qualified management team and has total assets of approximately $2 billion, over 15,000 employees, and a history of strong sales and earnings growth. Please visit our website www.yashenggroup.com and register to receive future press releases directly.
Safe Harbor Statement
Except for the historical information contained herein, certain matters discussed in this press release are forward-looking statements which involve risks and uncertainties. These forward-looking statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are discussed in the company's various filings with the Securities and Exchange Commission. The company assumes no obligation to update these forward-looking statements.