REDWOOD CITY, CA -- 11/09/09 --
Yasheng Group (PINKSHEETS: YHGG),
announced today that an agreement between Yasheng Group's majority
shareholder Yasheng Group BVI and Yasheng ECO Trade Corp wherein Yasheng
Eco Trade was to acquire 75,000,000 shares of Yasheng Group has been
terminated due to a clause in the agreement that either party could
terminated if the acquisition was not concluded by the end of September
2009.
Yasheng Group has other agreements with or involving Yasheng Eco Trade Corp
as previously announced by Yasheng Eco Trade Corp and Yasheng Group can
provide no assurances at this time that those agreement will be
consummated.
About Yasheng Group:
Yasheng Group (PINKSHEETS: YHGG) is a diversified agriculture conglomerate
incorporated in California, operating hi-tech agriculture as its core
business with advantages in rich land, advanced irrigation facilities,
strong R&D, agro, and biotechnology capabilities, as well as its competent
workforce in China. The company operates 6 major product segments including
field crops, vegetables, fruit, specialty crops, seeds, and poultry. With
total assets of approximately $1.7 billion USD and over 15,000 employees,
Yasheng Group has 155,097,355 shares issued and outstanding as of June 30,
2009.
Further information concerning Yasheng Group can be found on the corporate
website: http://www.yashenggroup.com/
Forward-Looking Statements:
Certain statements contained in this press release are forward-looking
statements that involve risks and uncertainties. The statements contained
herein that are not purely historical are forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as amended and
Section 21E of the Securities Exchange Act of 1934, as amended.
Contact:
Yasheng Group
Investor Relations
E-mail Contacts:
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