China Agro-Technology Appoints New CEO
SINGAPORE, Jan. 31 /PRNewswire-FirstCall/ -- China Agro-Technology Holdings Ltd ("CAT") today announced that it has appointed Mr. Jorge Cantonnet to be its Chief Executive Officer, replacing interim CEO Harry He, effective as of 1 February 2008. Mr. Cantonnet is based in New York.
CAT is a leading agro-biotechnology company listed on OTCBB in Dec 2007 . The company reported total audited revenues of US$37 million in fiscal year ended 30 September 2007, with gross profits of US$35 million and net income of US$32 million. CAT promotes ecologically sustainable technology to meet the global demands for biofuel supply and helps address environmental needs.
Mr. Cantonnet is a financial industry professional with over 25 years of experience. He is a founder and Chairman of the Board of Brazil Ethanol, Inc., a company incorporated to act as an acquisition vehicle for the consolidation of the ethanol industry in Brazil. In March 2007 Mr. Cantonnet led Brazil Ethanol's executive team in its successful completion of a US$150 million equity offering.
"I am thrilled to take on the role of CEO and come on board when the organization is at this stage with exciting developments ahead," said Mr. Cantonnet. "I am confident we will grow from strength to strength, and I am determined to lead the company to continued growth and value creation."
Biography
Mr. Jorge Cantonnet is a founding member and Chairman of the Board of Brazil Ethanol, Inc., a company incorporated to act as an acquisition vehicle for the consolidation of the ethanol industry in Brazil. In March 2007 Mr. Cantonnet led Brazil Ethanol's executive team in its successful completion of a US$ 150 million equity offering. He is also the founder of Global Capital Networks, LLC, a principal investment firm focusing in alternative energy industries, and has been its Chairman of the Board from February 2005 until the present day.
Mr. Cantonnet is a financial industry professional with 25 years of experience. From May 1998 until January 2005, he was a Senior Managing Director for Bear Stearns & Co., Inc., where he was the Global Head of Emerging Markets -- Capital Markets with worldwide responsibility for the regions of Latin America, Eastern Europe, Middle East, Africa and Asia. His prior experience includes serving as the co-head of UBS International's Capital Markets business, with responsibility for the region of Latin America, and as an executive with each of Bankers Trust, Merrill Lynch, and Citigroup. Mr. Cantonnet has also served as a director of Progressive Capital Solutions, LLC, a life settlements industry provider, since October 2005 until the present day.
Mr. Cantonnet earned a B.S. degree in Biomedical Engineering from Boston University in 1979 and an M.B.A. degree from Harvard Business School in 1986.
About China Agro-Technology Holdings Ltd
China Agro-Technology Holdings Ltd ("CAT") is an ecologically sustainable agricultural technology enterprise that aims at promoting a global reforestation program, generating environmental rehabilitation and serving the acute demands for paper products.
CAT is primarily involved in the ownership, management and operation of Genetically Engineered plantations, the non-tube clone plantations and the marketing of the proprietary rights and technological know-how to the global market.
CAT's strength is its group of highly innovative research scientists and agronomists who specialize in the R&D of agriculture and intelligent computer non-tube plant propagation technology. Driven by agro-biotechnology, CAT is able to achieve higher output with a shorter growth period. CAT's Genetically Engineered Eucalypt Trees (GEET) strains are suitable for cultivation at different climatic conditions and are able to grow within just 4-5 years time to a height of 35 to 40 meters, as compared to other species that take about 6 to 8 years. Its cutting-edge Non-tube Leaf Culture Technology is able to produce 60 million clone plants in 24 months for 20,000 ha of land from only one nursery station.
The company's trees also yield 50% more in wood timber, about 150 cubic meters per hectare as compared to 100 cubic meters per hectare for those which currently lead the world in eucalyptus production.
Other unique features of CAT's GEETs include increased resistance against pests and weeds, the ability to flourish under adverse weather and soil conditions, reduced usage of agro-chemical and growth of at least 8 rotations over a period of 50 years without the need for replanting of new saplings.
CONTACT: Ashley Hull of ProPublic Media, LLC., +1-310-450-9100,
hunnyhull@propublicmedia.com, for China Agro-Technology