|By Marketwired .||
|February 13, 2014 09:23 AM EST||
TORONTO, ONTARIO -- (Marketwired) -- 02/13/14 -- GreenStar Agricultural Corporation (TSX VENTURE: GRE) ("GreenStar" or the "Corporation"), a producer of canned tomato paste, canned peaches, mandarin oranges and grapes, and a supplier of fresh mandarin oranges, young bamboo shoots and mature bamboo, is pleased to announce that it made record shipments of its agricultural products in 2013. The following is a break down by metric tons, and on a per unit basis of products shipped in 2013 as compared to 2012 and 2011;
---------------------------------------------------------------------------- Measure 2013 2012 2011 ---------------------------------------------------------------------------- Fresh Mandarin Oranges Tons 18,842 13,002 13,076 ---------------------------------------------------------------------------- Fresh Spring Bamboo Shoots Tons 15,780 8,136 8,388 ---------------------------------------------------------------------------- Mature Bamboo Trees Units 957,809 480,000 536,000 ----------------------------------------------------------------------------
Volume of canned products shipped in 2013 also increased by 3.2 % from 31,041 metric tons in 2012 to 32,060 metric tons in 2013.
Commenting on the record volume of agricultural product shipments, Mr. Guan Linayun, GreenStar's Co-Chairman and CEO stated; "We are pleased with the significantly increased volumes of agricultural products shipped last year as a result of our lease of 576 additional acres of mandarin orange and bamboo producing lands at the beginning of 2013. Historically, agricultural products have provided the highest gross margins across our product lines."
About GreenStar Agricultural Corporation
GreenStar operates two main divisions, agricultural and food processing. The agricultural division is involved in the cultivation and harvesting of agricultural products such as fresh fruit and vegetables, for sale either directly as fresh fruit and vegetables or canned, and sold overseas and domestically. The food processing division is primarily involved in the processing of canned food, which includes canned tomato paste, canned boiled bamboo shoots, canned oranges, canned peaches and various other types of fruits and vegetables.
GreenStar has been operating for over 19 years. Through the application of science and technology in production, quality control and assurance, and business operations and management, GreenStar has focused on maintaining product and reputational excellence with a high standard of food quality. Key assets include a well established management team, modern production facilities, and a close partnership with local farmers.
GreenStar Agricultural Corp. is listed on the TSX Venture Exchange under the symbol "GRE".
For further information on GreenStar please visit our web site at www.greenstaragricultural.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Caution Regarding Forward-Looking Information:
Certain statements in this press release may constitute ''forward looking'' statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. When used in this press release, such statements may use such words as ''may'', ''will'', ''expect'', ''believe'', ''plan'' and other similar terminology. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this press release. Forward looking information in this press release includes managements plan to expand to North America and to become a major global company in the agricultural and food industry. These forward looking statements involve a number of risks and uncertainties. Some of the factors that could cause actual results to differ materially from those expressed in or underlying such forward looking statements are the effects of, as well as changes in: international, national and local business and economic conditions; political or economic instability in the Corporation's markets; competition; legislation and governmental regulation; and accounting policies and practices. The foregoing list of factors is not exhaustive. Please see the Corporation's annual MD&A dated April 25, 2013, available on www.sedar.com, for a more detailed description of the risk factors. The Corporation undertakes no obligation to update publicly or revise any forward looking information, whether a result of new information, future results or otherwise, except as required by law.
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