Boston, MA 10/01/2013 (wallstreetpr) – On Monday, Yongye International, Inc (NASDAQ:YONG), a pioneer at manufacturing and distributing crop nutrient products in PRC (People’s Republic of China), announced that the Chief Operating Officer Mr. Nan Xu resigned from the post of COO and also as a member of the Board of Directors. Mr. Nan Xu has cited personal reasons for this resignation and the last day of his service in the company will be October 1, 2013.
Yonge International does not currently intends to appoint a new member to the Board of Directors and anticipates a smooth running of the company as the duties and responsibilities of Mr. Nan Xu as the Chief Operating Officer will be assumed by senior management team members.
The Chief Executive Officer and Chairman of Yonge International, Mr. Zishen Wu conveyed his best wishes to Mr. Nan Xu and on the behalf of Yonge International thanked him for his dedication and major contributions to the growth and development of the company. Mr. Zishen also wished Mr. Nan very best for all his future endeavors.
About Yonge International, Inc
Yonge International, Inc is one of the leading crop nutrient companies in Beijing and has its production facilities at Inner Mongolia, Hohhot and China. The chief product for the company is a liquid crop nutrient and the firm derived significant sales from this liquid crop in the year 2012. Yonge also manufactures a powder animal nutrient powder which is extensively used for the dairy cows. Both liquid crop nutrient and animal nutrient powder are sold under the name “Shengmingsu” that has a meaning ‘life essential’ in Chinese. Fulvic acid is used by the firm as the primary compound and it is combined with a number of macro and micro nutrients essential for proper growth of the crops. The major buyers for the company are provincial level distributors who sell the products to the end users through village level and county level distributors.
