HARBIN, China, April 15, 2009 (GLOBE NEWSWIRE) -- China Forestry Inc. (OTCBB:CHFY), a timber investment group in the People's Republic of China, today announced the addition of Mr. Xiancheng Yang to its Board of Directors, increasing the size of the board from four directors to five.
Xiancheng Yang is currently the Director of the Railway Management Department of the Tieli Forestry Bureau. Mr. Yang has over 30 years of experience in China's forestry industry. Until 2004 he served as the General Manager of Dongfanghong Timberland under the Tieli Forestry Bureau. In 1976, he joined Xiangyang Timberland of the Tieli Forestry Bureau, and he was appointed Division Manager of Xiangyang Timberland.
"Mr. Yang brings exceptional experience and knowledge to our Company, and he is an outstanding addition to our Board. We are very pleased to welcome him and look forward to his contributions to our success," stated Mr. Yuan Tian, CEO of CHFY.
China Forestry Inc. (OTCBB:CHFY) is a timber investment group formed in the People's Republic of China to conform to State laws that prohibit non-PRC ownership of forest lands. The Company's strategy is to capitalize on the Chinese Government's decision to promote sustainable forest management through land tenure reforms that include the transferability of forest user right certificates to PRC entities. The Company's current holdings include ownership of four user right certificates representing 1,561 hectares of State forest assets in China's northeastern Heilongjiang Province, home to China's most valuable timber and one of the most distinctive temperate forests in the world due to its rare biodiversity. For more information, please visit the Company's website at: http://www.chinaforestryinc.com.
Forward Looking Statement:
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of the Company's products, the competitive environment within the industry, the ability of the Company to continue to expand its operations, the level of costs incurred in connection with the Company's expansion efforts, economic conditions in the industry and the financial strength of the Company's customers and suppliers. The Company does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.