Kiwa Bio-Tech Products Group Corp (fka KWBT)

[hugh_jackoman]

ONTARIO, CA--(Marketwired - Aug 28, 2017) - Kiwa Bio-Tech Products Group Corporation ( OTCQB : KWBT ) ("Kiwa Bio-Tech" or the "Company"), an environmentally friendly Company that promotes harmless agriculture in the Country of China and specializes in the manufacturing of biological organic fertilizers, announced today that the Company has launched a joint venture with Zhongshi'an Agricultural Science & Technology Co., Ltd and Xintaitianyi Financial Service and Science & Technology Co., Ltd.

The joint venture name is Inner Mongolia Jingnong Investment Management Co. Ltd ("Jingnong"). Kiwa Bio-Tech is a 40% partner in the venture, which will have an initial capitalization of approximately $1.5 million. Jingnong will invest in the expansion of Kiwa's existing production base in Shandong Province and in the construction of 3 new manufacturing bases of Kiwa in Inner Mongolia Province, Xinjiang Province, and Guizhou Province.

Kiwa's CEO Yvonne Wang stated, "As a main part of the cooperation between Kiwa and the China Agricultural Products Processing Industry Development Association, the establishment of the new Joint Venture is a great achievement in the history of Kiwa. The formation of Jingnong will certainly help to expand our business much quicker throughout the Country of China."

https://finance.yahoo.com/news/kiwa-bio-tech-announces-plans-120000461.html