China Agritech Inc. is a young and growing company that has been gaining national recognition as a leading national liquid and granular organic compound fertilizer manufacturer and distributor in China. The young company reached a major milestone today with the announcement that they have expanded a sales and distribution partnership with Sinochem Fertilizer Company Ltd. for the companyâ€™s â€œGreen Vitalityâ€ granular fertilizer products.
This pivotal contract, which will run through 2010, will supply 15,000 tons of Green Vitality granular fertilizer and is worth an estimated value of $6.4 million. China Agritechâ€™s â€œGreen Vitalityâ€ compound granular fertilizer products are a premium line capable of improving the yields of a wide variety of crops. The company will be exclusively responsible for delivery and technical services.
The union of China Agritech and Sinochem will enhance both companies. Sinochem is currently Chinaâ€™s largest integrated agricultural company as well as the countryâ€™s largest fertilizer corporation while China Agritech is a vastly growing corporation that will gain a great deal of attention with this new contract.
When asked about the impact of this contract as it pertains to the future of China Agritech, company CEO Yu Chang was quoted as saying, “We are excited about the expansion of our relationship with Sinochem, China’s largest agricultural and fertilizer Distribution Company. This new contract acknowledges the quality of our granular fertilizers and the fertilizer solutions they provide to the farmers. We anticipate that Sinochem’s large sales and distribution network will help us reach new customers and markets within China.”
Currently, China Agritech is trading in the $13 range and is up over 14% since this news was released. Investors are starting to take notice of CTEC.