CLAREMONT, Calif., Dec. 21, 2006 (PRIME NEWSWIRE) -- Kiwa Bio-Tech Products Group Corporation (OTCBB:KWBT) announced that the first 50,000 metric tons of urea has arrived in a designated port in Viet Nam.
On July 28, 2006, Kiwa entered into an agreement with China Hua Yang Roneo Corporation ("Hua Yang") to sell to Hua Yang 200,000 metric tons of prilled urea. The urea trade between Kiwa and Hua Yang has now made substantive progress. The first 50,000 metric tons of urea had already arrived at the designated harbor of Viet Nam. Ms. Niu, the officer in charge of this trade of Hua Yang, said now they are in the process of negotiation of L/C.
Mr. Wei Li, Board Chairman and CEO of Kiwa, stated that: "We are very glad to see that the first 50,000 metric tons of urea had arrived in a designated port of Viet Nam successfully. We also believe that we can maintain a good cooperative relationship with China Hua Yang Roneo Corporation in international trade."
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.