China Premium Food Corp. (OTCBB:CHPF) announced yesterday that the Company has appointed Mr. John J. McCormack, as its new President and Chief Operating Officer. He will oversee China’s Premium activities both domestically and internationally. Mr. McCormack enjoyed a seventeen-year career with Dean Foods Company (NYSE:DF) and has been a member of China Premium’s Board of Directors since November 1997.
Mr. McCormack, 42, has held several senior positions with Dean Foods over the past seventeen years. He was most recently Vice President of Sales and Marketing for the Midwest Region, the largest region of Dean Foods $3 billion dairy group.
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Mr. McCormack has previously been Vice President of Sales and Marketing for Dean Food’s McArthur Dairy in Miami, Florida and Vice President of Sales and Marketing for Dean’s Louisville, KY operations.
About his appointment, Mr. McCormack stated, “China Premium is a young company with a great opportunity for growth. It has definitely sparked my entrepreneurial spirit and I think that with my dairy and food marketing background, I can help the company achieve its goals. I have recently been in China and seen firsthand the market potential there for premium food products, and the great reception by the Chinese of our Looney Tunes(TM) products – and especially the great potential for the food products that China Premium plans to import into China.”
According to Mr. Roy Warren, who will remain CEO of China Premium, “We are pleased and proud to have attracted John to join our company in this capacity. John has witnessed, as a board member, the evolution of China Premium and clearly sees the potential and momentum that is now building. His obvious industry expertise and experience will make an enormous contribution to our management team.”
China Premium’s wholly owned Chinese subsidiary currently distributes and sells Looney Tunes(TM) flavored milks to consumers in China, under a Master License from Warner Bros. China Premium’s Looney Tunes(TM) milk is being distributed in China by Jie Qiang (Shanghai’s largest food distributor) and should be available in all Jie Qiang’s 1,674 affiliated stores by the end of the year. China Premium’s US subsidiary, Bravo! Foods, Inc., sells Looney Tunes(TM) flavored in the United States through contractual arrangements with Quality Chekd, a national dairy co-op, and local member dairies. Bravo! Foods holds a license from Warner Bros. to utilize the Looney Tunes(TM)characters and names on milk products throughout the fifty U.S. states, Puerto Rico and the U.S. Virgin Islands, and a national rollout of Looney Tunes(TM)branded, flavored milks is underway.
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By GlobalDataIn China, China Premium recently introduced a full service B2B food portal through which the company will procure other high-quality food products for China and import them through its trading company subsidiary located in the Wai Gao Qiao Free Trade Zone in Shanghai. As new products are imported into Shanghai by China Premium, Jie Qiang and Ego365.com will be ongoing distribution channels for these products. The company currently is importing into China private-labeled snack crackers manufactured by Lance, Inc. (Nasdaq:LNCE), which are branded with the Looney Tunes(TM) brand.
For more information, visit www.chinapremiumfood.com.
Looney Tunes, characters, names and all related indicia are trademarks of Warner Bros., (c)2000.
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.
