|
China Peregrine Food Corporation
11300 U.S. Highway 1, Suite 202
N. Palm Beach Fl. 33408
chinaperegrine.com
(OTCBB:CHPF)
China Peregrine owns 70% of an existing fifty-year National Joint Venture with China National Green Food Corporation, a wholly owned subsidiary of the Ministry of Agriculture of the Peoples Republic of China, one of the first ever approved in China. China Peregrine currently controls and operates dairy facilities in Shanghai and
Hang Zhou, China. The company manufactures and distributes dairy products in these markets.
Recent successful negotiations with Warner Bros has created an opportunity for China Peregrine to introduce a full line of Looney Tunes branded products, including pasteurized milks, juices and yogurt drinks in the Shanghai market.
Peregrine's over-the-counter shares which traded around $6.50 in late 1997 currently reflect the 1999 down-turn in Asian ventures dropping to around $1.50.
Roy Warren, the company's President and CEO is optimistic about the future. He believes that recent management changes and the inking of the deal with Warner Bros. will have a positive impact on sales and profitability. This, in turn, will help increase the stock value.
"Sales of the new products, being introduced through Carrefour Hypermarkets in Shanghai, is stronger than anticipated and are exceeding our launch objectives," says Tony Guiliano, Senior Vice President of Marketing.
|
|
