Oct 26 2010
China Green Material Technologies, Inc. (OTC Bulletin Board: CAGM; "CAGM" or "the Company"), a Chinese leader in developing and manufacturing starch-based biodegradable and disposable food containers, tableware and packaging materials, today announced an agreement with QKL Stores Inc. ("QKL") to sell the Company's products in all of QKL's 40 stores. CAGM started shipping products to QKL in October.
QKL will carry fifteen models of the Company's products, including cups, plates and bowls. Based in Daqing, QKL is a leading supermarket chain in Northeast China, with stores in Heilongjiang and Jilin provinces and Inner Mongolia municipality. This agreement will allow CAGM to expand its retail distribution in this region, where more than 130 million people reside. The Company's products are already available in 11 provinces and 23 cities. CAGM's starch-based biodegradable and disposable products are high-quality, environmentally friendly and approximately 20% cheaper than paper-made products.
Mr. Su Zhonghao, Chief Executive Officer of China Green Material Technologies, stated, "We are pleased to partner with one of the leading supermarket chains to make our products available to more consumers in Northeast China. With our new state-of-the-art production facility coming online later this year, we will be even better positioned to meet the rising demand for biodegradable products among Chinese consumers."