Replies to post #1679 on Sino Agro Food Inc (fka SIAF)

[kuwlness]

Hang Sing Tai Agriculture Development Co. Ltd. Expands Production Capabilities, Completes Installation of Additional Dryer Units

Press Release
Source: Sino Agro Food, Inc.
On 9:22 am EDT, Friday October 16, 2009


GUANGZHOU, China--(BUSINESS WIRE)--Sino Agro Food, Inc. (Pink Sheets:SIAF - News), an emerging integrated, diversified agriculture technology and organic food company with subsidiaries operating in China, is pleased to announce Hang Sing Tai Agriculture Development, a 75% owned subsidiary of Sino Agro Foods, Inc., has expanded its production capabilities by installing additional dryer units.

Hang Sing Tai Agriculture Development operates a 490-acre Hylocereus Undatus (“HU”) flower plantation. HU flowers, also known as “dragon fruit”, are popular in China for their perceived medicinal benefits. The Company recently completed construction of 4 new additional dryer units. These new units will increase the amount of product that can be dried, which will result in less product spoilage, longer shelf life and expanded distribution during winter months.

The Company is also nearing completion on the construction of additional cooling rooms, as well as improvements to infrastructure such as roads, loading and discharging bays, open storage areas and drainage. An additional 50 acres are also expected to be added for the 2010 season. The Company expects total renovation and development costs to run approximately $2M U.S. dollars of which are being funded through retained earnings from ongoing operations and China Government subsidies.

Mr. Lee Solomon, Sino Agro Food, Inc. CEO, stated, “The new dryers are expected to increase our revenue by at least three times subject to dried flower prices between now and April 2010. It is however looking good so far, as information is indicating that overall supplies this year will be less than 2008, and 2008’s average was RMB46 / kg of dried flowers, and we are expecting over RMB50 averaged for 2009 crops.”

Beacon Equity Research recently published an equity report providing an overview of Sino Agro Food, Inc. This report may be viewed at http://siafchina.com/download/SIAF.pdf. Additional information about the Company may be obtained at http://www.pinksheets.com