USA: China Premium Food Corporation changes name to Bravo! Foods International Corp
The Board of Directors of the Company recently approved this name change to reflect the Company's increased emphasis on international marketing and branding in the flavored milk business. While China Premium (Shanghai) remains a significant initiative, and the growth potential substantial, the worldwide sales opportunities provided by the Looney Tunes(TM) branded flavored milk have become increasingly important to the Company. Management has been extremely encouraged by the performance of the Bravo! Foods model in the United States and intends to expand this format internationally.
The current management will remain unchanged. Mr. Roy Warren, will continue as CEO of Bravo! Foods International, Mr. John McCormack will continue as President/COO of Bravo! Foods International, and Mr. Tony Guiliano will remain as President/COO of Bravo! Foods, Inc. (USA).
Mr. Roy Warren, CEO of Bravo! Foods International said, ``We continue to be excited about the unlimited potential in China and, after developing the Looney Tunes(TM) branded flavored milks there, we have successfully introduced the Looney Tunes(TM) branded products in the United States. We feel that the focus for the Company is to continue to strengthen this model internationally and to capitalize on our ability to develop and effectively market new brands.''
China Premium (Shanghai) is marketing and selling Looney Tunes(TM) brand flavored milk in China through an expanded license from Warner Bros. Consumer Products to market and distribute Looney Tunes(TM) brand food products throughout mainland China. Bravo! Foods International's established infrastructure in China includes its subsidiary, a trading company in the Wai Gao Qiao Free Trade Zone in Shanghai.
Bravo! Foods International continues to expand and distribute key products in the U.S. through its Bravo! Foods (USA) subsidiary and to form strategic relationships with local U.S. producers and manufacturers. Bravo! Foods (USA) has introduced Loony Tunes(TM) brand flavored milk into seventeen states through production and distribution agreements with Quality Chekd member dairies, and expects the brand to be available nationally by the end of the year.
Safe Harbor under the Private Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties as may be detailed in the Company's filings with the Securities and Exchange Commission.
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