China Organic Agriculture, Inc. (CNOA.OB) Announces Acquisition of Food Transportation Company
China Organic Agriculture, Inc (CNOA.OB), a leading organic food company, announced that the company is to acquire Dalian Baoshui District Huiming Trading Limited. Huiming is a growth driven company that has demonstrated increasing net income and revenue during previous fiscal periods. In particular, revenue totaled $40 million and net income totaled $3.7 million during fiscal year 2006. For the first 6 months of 2007, revenues totaled $24 million and net income totaled $2.6 million; representing an increase of 20% from the previous year. Dalian Baoshui District Huiming Trading Limited was first established in July 2001. The Company is focused on…