BEIJING, June 4, 2009 /PRNewswire-FirstCall via COMTEX/ -- Golden Dragon Holdings, Inc. (Pink Sheets: GDHI) www.gdfbhk.com. is pleased to be able to update our shareholders and potential investors on some of the exciting projects we are working on. Most of these updates are a direct result of Mr. Cuenca's visit to the Fenavin Wine Fairs in Spain. http://www.fenavin.com/
Mr. Cuenca's visit to the Fenavin Fair was a success. He was able to meet with some of the leading wine manufacturers in Spain and spent some time touring the wineries and their installations. Some of the wineries that we are working on signing a contract are Frutos de Villar, Bodegas Valdellana, Bodegas Martinez LaCuesta, Bodegas Conde, Bodegas Rejadorada, Bodegas Altovela and also a couple of ecological wineries such as Bodegas Parra Jimenez. All the mentioned wineries are leaders in the Global markets with wines that are recommended by expert magazines such as Wine Spectator, Wine Enthusiast and Robert Parker.
Forecasts
Datamonitor forecasts that the Chinese grape wine market should increase by roughly 7% by 2011. Datamonitor also predicts that fortified wine will maintain its position as the leading category in the total wine market. The fortified wine category is expected to see a year-on-year growth of 3.8% between 2006 and 2011 and account for 62.7% of the total wine market in 2011- a drop of 0.8% compared to a market share of 63.5% in 2006. The Chinese fortified wine market is expected to rise to CNY27,692.7 (US$3,433.9) million by the end of 2011 - a sales increase of CNY4,757.9 (US$590) million for the five-year period spanning 2006-2011.
Mr. Cuenca will be traveling to Spain within the next two weeks to finalize the contracts and start working with the wineries on product registration and marketing development.
Safe Harbor Statement
Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995.
FEEC. China CBM play with a big uptick in volume this past week. Something's up....PR to follow soon perhaps. It's been flying quietly under the radar, but with a recent JV deal and a rise in commodity prices, it's wound tight and ready.
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