SHENZHEN, China, Feb. 12, 2007 (PRIME NEWSWIRE) -- New Dragon Asia Corporation (AMEX:NWD), one of China's leading flour, instant noodle and soybean powder manufacturers, announced today that it has commenced the production, marketing and shipping of ginger powder. Ginger powder is extracted from raw ginger through an advanced technological process developed by New Dragon Asia. Ginger has long been valued for holistic medicinal purposes and is thought to improve digestion, settle upset stomach, and allay fever and coughing. The product sells for approximately $14,000 per ton, with attractive margins. New Dragon is currently the only producer of ginger powder in China.
Li Xia Wang, New Dragon Asia's CEO said, "Ginger powder is yet another high quality, high margin product that we are pleased to offer domestically and for export. New Dragon Asia is in a unique position, with both production facilities in close proximity to ginger farm land and the technical know-how to produce ginger powder. We believe that ginger will be a key product in our continued development of the export market in 2007."
About New Dragon Asia Corporation
New Dragon Asia Corp., a Florida corporation (AMEX:NWD) is headquartered in Shandong Province, China and is engaged in the milling, sale and distribution of flour and related products, including instant noodles and soybean-derived products, to retail and commercial customers. As the fourth largest instant noodle manufacturer in China, New Dragon Asia markets its well-established Long Feng brand through a network of more than 200 key distributors and 16 regional offices in 27 Chinese provinces. It has an aggregate production capacity of approximately 195,000 tons of flour, more than 1.1 billion packages of instant noodles, and 4,500 tons of soybean powder and protein powder per year. New Dragon products are exported through Hong Kong and South East Asia, including Singapore, Malaysia, South Korea and Australia. HACCP approval, obtained in June 2006, allows the export of New Dragon products to Europe, with orders already received from that region. The company has approximately 2,000 employees. For more information, visit the Company's website at www.newdragonasia.com.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations or beliefs, including, but not limited to, its success with acquisitions, anticipated synergies, and overseas expansion. For this purpose, statements that are not statements of historical fact may be deemed to be forward-looking statements. The company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the impact of competitive products and pricing; changes in consumer preferences and tastes or perceptions; effectiveness of advertising or market-spending programs; changes in laws and regulations; fluctuations in costs of production, foreign exchange and interest rates; and other factors as may be discussed in the Company's reports as periodically filed with the Securities and Exchange Commission.