Shares of Shandong Zhouyuan Seed and Nursery Co. Ltd. (OTCBB: SZSN) jumped up today after news about its new research and development agreement surfaced. In early trading today, SZSN was up 2 cents (9 percent) to 25 cents per share.
SZSN announced that its operating subsidiary company in China has signed a research and development agreement with Sihong Feng Tian Seeds Co. Ltd. to jointly accelerate the application and promotion of new wheat seed “Zhouyuan 187” in the Jiangsu province, China P.R.C. It is expected that the final products will enhance the wheat production in Jiangsu due to the new application of this new seed.
“In fact, we are generating more products performance data prior to advancement and commercialization decisions than ever before,” said Wang Zhigang – president of SZSN – in a statement. “We hope this agreement and any other similar agreements with more and more distribution and sales networks to rapidly turn our researches effort into applications.”
Through this cooperation, the company’s subsidiary seeks to accelerate the development of new and improved products, enabling technologies, giving growers the tools they need to meet the rapid growth in demand for wheat.
Wang further explains that the vast majority of new product releases and promotion for next year will carry what are becoming the essential researches into commercialization. “For wheat growers, it means they’ll have better wheat seed choices for the 2008 growing season there.”
SZSN, through its operating subsidiary, grows produces and markets the seeds with high starch content for use in industrial food production in China. Its business covers the agriculture seeds development and distribution over more than twenty provinces in China.
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