CLAREMONT, Calif., March 20, 2007 (PRIME NEWSWIRE) -- Kiwa Bio-Tech Products Group Corporation (OTCBB:KWBT) announces its senior management's plan to visit Vietnam and the U.S. and announces its latest progress on the acquisition of GMP qualified veterinary drug factory.
Mr. Wei Li, the Board Chairman and CEO of Kiwa, Mr. Yunlong Zhang, Director of the Company, and Professor Qi Wang, Vice President -- Technical and concurrently Director of KIWA-CAU R&D Centre, plan to visit Ho Chi Minh City, Vietnam on March 21st. The senior management team will meet Kiwa's Vietnam agent, discuss sales model and technical support so as to reach a long-term distribution agreement. Kiwa has received market admittance (Admittance NO.:3478/QD-BNN-TT) for two of its bio-fertilizer products from the Ministry of Agriculture of Vietnam on November 2006.
Mr. Lianjun Luo, Chief Financial Officer of Kiwa, Mr. Xin Ma, the Associate CFO of the Company and Ms. Yvonne Wang, Company Secretary will attend Capital Conference in Irvine, U.S. on April 14th. The conference is to be held by SCIA (Southern California Investment Association). In the meanwhile, they will also visit New York to meet some principal investors as well as potential investors.
In the past few weeks, the Company's senior management has been conducting several rounds of negotiations with senior management and shareholders of the acquisition target of GMP qualified veterinary drug factory. Both sides are currently finalizing the agreement. It is expected that the agreement will be signed in the very near future.
About Kiwa Bio-Tech Products Group Corporation
The Company develops, manufactures, distributes and markets innovative, cost-effective, and environmentally safe bio-technological products for agricultural and natural resources and environmental conservation. The Company's products are designed to enhance the quality of human life by increasing the value, quality and productivity of crops and decreasing the negative environmental impact of chemicals and other wastes. For more information about the Company, please visit the Company's website at http://www.kiwabiotech.com.
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.