CBF China Bio-Fertilizer AG
CBF China Bio-Fertilizer AG : Changes in Management and Supervisory Board
CBF China Bio-Fertilizer AG / Key word(s): Change of Personnel PRESS RELEASE
CBF China Bio‐Fertilizer AG: Changes in Management and Supervisory Board Additionally, with effect from February 1 respectively February 17, 2013 Mr. Ching Ho TAM and Ms. Ying Li HONG also resigned from their position as members of the Supervisory Board because of their increased obligations in other business engagements. Immediately, the company identified appropriate candidates for these positions. Following the approval of the chairman of the Supervisory Board, the company will file an application with the local court in Hamburg for the appointment of two new members of the Supervisory Board by court. Mr. Tao Jiang, CEO, regrets their decisions. At the same time he thanks all of them for the trusting cooperation as well as their hard work and their efforts in the last years in order to develop the company successfully. CBF China Bio‐Fertilizer AG will publish its preliminary figures (full year 2012) in April 2013. Regarding the present preparation of the financial statements, sales revenues will be far above EUR 8 million and, thus, match the forecast given in November 2012.
CBF's bio fertilizer primarily consist of two different bacteria that, when put in the ground with the conventional fertilizers convert phosphorus and potassium into a form that is easily absorbed by plants. Using this bio fertilizer reduces the need for chemical fertilizers by up to 30% and, depending on the type of plant, boosts crop yields by up to 30%.
Financial calendar 2013:
About CBF China Bio-‐Fertilizer AG The operating subsidiary of CBF 'Shandong Chengwu Jiuzhou Science and Technology Development Company Limited' was founded in Shandong Province, China, in 2005, with a view to exploiting biotechnological processes for agriculture. After three years of development work, in May 2009 the company launched its first bio fertilizer product based on microorganisms in the Chinese market under the brand name 'Xin Sheng Li'. At present CBF distributes its bio fertilizer in eleven of 26 Chinese provinces. The company intends to expand to further provinces. CBF currently sells its fertilizer directly to major agricultural cooperatives, plantations and wholesalers in China.
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Language: | English | |
Company: | CBF China Bio-Fertilizer AG | |
Schopenstehl 22 | ||
20095 Hamburg | ||
Germany | ||
E-mail: | hwong@chinabiofertilizer.com | |
Internet: | www.chinabiofertilizer.com | |
ISIN: | DE000A0AFEV5 | |
WKN: | A0AFEV | |
Listed: | Frankfurt in Open Market (Entry Standard) | |
End of News | DGAP News-Service |
201931 20.02.2013 |