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US BioTec, Inc. (PINKSHEETS: USBO), an emerging player in the rapidly growing bio-chemical sector of the annual multi-billion dollar industries related to agriculture, lawn & garden, and golf course products, today announced the results from its recent trade mission to China. For approximately two weeks during July, US BioTec's envoy, William Hoff, toured China on behalf of the Company to research one of the world's largest economy's agricultural product needs and to seek out domestic Chinese distribution partners.
During the trip, Mr. Hoff met with five agricultural product distribution companies in China. Each company expressed interest in marketing US BioTec's (USBO) biotechnology products for crop production. USBO has received official letters of interest indicating the highest level of interest from two of the Chinese companies, relaying their desire to partner with USBO in joint-distribution relationships. In the meantime, the Company's staff and advisors are investigating procedures and logistics for exporting biotechnology products to China.
"We are obviously excited about the sincere level of interest these two companies, one in Shanghai and the other in Zhenghou Province, have shown thus far. William (Hoff) has already developed personal relationships with some of the key people within these companies. These companies appear to be very knowledgeable about current production problems plaguing their country's farmers. They understand that natural, biochemical products are the answer to attacking pest infestations in China, while offering the best solution for preventing further environmental damage from the use of toxic chemicals and pesticides," declares Jimmy Joyner, CEO of US BioTec, Inc.
China holds huge market potential for US BioTec's products. The country currently has several hundred million acres of land in crop production, far exceeding that of the U.S. and as such represents a multi-billion dollar agri-products market. China is a very attractive market for US BioTec products, not just because of its huge acreage, but the acceptance level of biotech products is amazing since China possesses the ultimate ecologically oriented society in the world. Government cooperation in facilitating the import of non-toxic products into China is at an all time high, as the government becomes increasingly aware of the worldwide problems associated with agricultural pesticide use.
"The rewards and potential for penetrating the Chinese agricultural market is gigantic. We believe that once introduced and widely available, USBO's non-toxic, non-carcinogenic agricultural products could become the industry standard for biotech products. At the same time, we expect to gain exposure for products from our other divisions, such as lawn & garden.
The two companies USBO is currently in talks with represent over 2,000 agricultural companies throughout China. They also have exposure to over 26,000 additional agricultural companies and affiliates throughout the country through their websites. These companies already market products from major multi-national agri-chemical companies, but it appears that US BioTec is only the second biotech company to enter talks with them about widespread distribution of agricultural biochemical products.
All of US BioTec's products are non-toxic, non-carcinogenic and biodegradable alternatives to the toxic and sometimes carcinogenic agrichemicals that have been widely used by farmers for decades. The agrichemical market, which is measured in the tens of billions of dollars annually, is controlled primarily by a handful of large multi-national corporations such as DuPont, Syngenta, Bayer, BASF, Dow Chemical and Monsanto.
About US BioTec
US BioTec was established to profitably develop, manufacture, market and distribute bio-degradable, non-toxic and non-carcinogenic products to agriculture, the commercial turf industry, forestry, golf courses, professional landscapers, nurseries and mass market retail lawn and garden markets. USBO is striving to be the U.S. market leader in the expanding bio-chemical sector of the annual multi-billion dollar agricultural chemical marketplace. It has already begun taking the necessary steps to negotiate distribution and joint venture contracts to facilitate its nationwide expansion over the next few years. The Company's products are designed to rehabilitate soils, repel insects and increase crop (plant) yields through environmentally friendly alternatives to toxic man-made pesticides and caustic synthetic fertilizers and herbicides. To learn more about US BioTec and its products, please visit www.usbioteccorp.com.
Source: Market Wire (September 8, 2006 - 7:45 AM EST)
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