China Premium Food Corp. (OTCBB:CHPF – news) announced today that the company has completed the front and back office of its B to B e-commerce food portal for China, in preparation for the launch of the beta test for this site later this month. US and international food companies and investors interested in previewing the portal should visit www.chinapremiumfood.com and click on the “Mandarin” link.
Currently, the portal’s food selection is comprised of the initial premium food items that will be supplied to many of the four and five star hotels in China. The portal will facilitate the integration of other international, Western-quality food suppliers to this established product line. As such, the portal will offer food manufacturers a turnkey solution to entering the Chinese market.
Go deeper with GlobalData
A recent survey published by China Internet Network Information Center (CNNIC), one of the leading sources on China’s Internet sector, reported that online purchasing was rated as the most promising online business in the future. The CNNIC survey found, however, that the most cited obstacle to online purchases was the quality of products and services. China Premium’s food portal will address both concerns by offering high-quality, Western products through a sophisticated and streamlined purchasing e-commerce tool for hotels, restaurants, supermarkets and the like.
Mr. Roy Warren, President and CEO of China Premium, said, “The portal utilizes technology to help streamline food purchasing for Chinese entities. The portal will help short-circuit many inefficiencies encountered by the Chinese institutions that purchase large quantities and multiple food items.”
China Premium has a subsidiary distribution company in the Wai Gao Qiao Free Trade Zone in Shanghai that facilitates import/export transactions. In addition, China Premium holds a 52% interest in the Hangzhou Meilijian Dairy in Hangzhou, China, the largest dairy in this urban area of 6 million people. The company is also in negotiations to structure licensing agreements with principal dairies in China’s top cities to produce its proprietary Looney Tunes(TM) line of flavored milks and drinkable yogurts.
China Premium presently is importing private-labeled snack crackers manufactured by Lance, Inc., (NASDAQ:LNCE – news), which are branded with the Looney Tunes(TM) brand and characters and hopes to leverage its Looney Tunes(TM) license in China to brand additional products. China Premium has several seasoned food industry executives and directors, both in the U.S. and China. The Company’s Chinese management has had tenures at IBP, Hormel Foods, Cargill, Inc., and Price Waterhouse Coopers and in the U.S., past associations include Schering-Plough, Dean Foods, Farm Fresh and Cumberland Farms.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataFor information on the company, visit www.chinapremiumfood.com.
Looney Tunes is a licensed trademark 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 effects of economic conditions and other uncertainties as may be detailed in the Company’s filings with the Securities and Exchange Commission.
