August 2, 2008
Emerald Dairy builds dairy processing facility in China's Heilongjiang
Emerald Dairy Inc announced that it has begun construction of a new milk powder processing facility in Hailun City, Heilongjiang Province.
Hailun City is located approximately 120 miles north of the Company's headquarters in Harbin City, the capital of Heilongjiang province, and 80 miles south of the company's existing facility in Bei'an City.
Upon completion in early 2009, the new facility will have an annual production capacity of 9,000 tonnes of milk powder, doubling the company's annual production capacity to approximately 18,000 tonnes by the end of 2009.
The Company has secured milk supply from local farmers. In addition, the new facility will provide Emerald Dairy with the flexibility to accommodate future production of an additional 9,000 tonnes as market demand grows. The US$20- million project be financed through internal cash as well as potential debt or equity offerings.
Yang Yong Shan, Chief Executive Officer of Emerald Dairy, stated that the new facility, located in the proximity of Harbin the provincial capital city, would further strengthen the company's expansion efforts.