Today, plant and animal nutrient distributor, manufacturer and developer Yongye International, Inc. announced an update to the October 2009 3-year growth strategy, detailing its production capacity and branded store network for 2010.
The company expects to reach an estimated production capacity of 30,000 tons of Shengmingsu branded plant nutrient product from its current level of 10,000 tons per annum. Currently, the company’s facility operates at almost full capacity to meet peak season demand and inventory requirements. Additionally, Yongye anticipates further expansion of the retail branded store networks which sells its products, from the current level of 7,000 stores to 20,000 independent stores by the end of 2010.
Mr. Zishen Wu, Chairman and CEO of Yongye, observed, “The increase in the number of branded stores by our distributors is driving the need to increase our plant capacity as we strive to meet demand. These are key elements in the tenets of our strategic plan which is based on continued significant growth next year.”
Mr. Wu continued, “With these in place, we expect to see significant growth in revenue so we can keep on track with our projections of at least 50% growth year-on-year over the next three years.”