July 28, 2008

 

China Marine penetrates new markets, appoints two new distributors
  

China Marine Food Group Ltd., a manufacturer and distributor of seafood products and snacks, has appointed two new distributors to its sales network covering Shanghai and Guangdong province.

 

After several months of market research conducted in greater Shanghai and Guangdong province, China Marine has entered into distribution agreements with qualified master distributors in each of these territories.

 

Both distributors are well-established food wholesalers and resellers whose sales channels include China's fast-growing supermarket and convenient store segments. Noteworthy retail points for the new territories include Shanghai Lotus Supermarket Chain Store and Kosmo. Collectively, the new distributors added approximately 100 new points of sale for China Marine products in their respective territories.

 

Chairman and CEO Liu Pengfei said sales from the new distributors and newly launched products will push the company's capacity utilisation rate above 90 percent.

 

Liu also said the company is undergoing facility expansion to address increased demands. The first phase of China Marine's expansion will be the combination of equipment upgrades and the installation of new processing lines. Production capacity will increase by 50 percent to average 10,000 tonnes annually by the fourth quarter of 2008.

 

Fujian-based China Marine Food Group Ltd. manufactures and distributes processed seafood products, and fresh and frozen marine catch to five provinces in China.

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