REDWOOD CITY, CA--(Marketwire - Feb 12, 2013) - Yasheng Group (OTCQB: YHGG), a diversified China-based agricultural conglomerate with US headquarters in California, today announced a Memorandum of Understanding Agreement with Land Economics Management Consultants Ltd. relating to the development of their land projects in Latin America covering approximately 6,000,000 hectares. Under the proposed joint venture, Yasheng will provide the JV Company with strategic agricultural management for sustainable use, forestry conservation, new tree plantation, mineral mining, and environmental services including the sale of carbon credits on the China Environment and Carbon Exchange.
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 $2.0 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.
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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.