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Slide #17. American Lorain Corporation — 51% share capital in Athena Group
American Lorain Corporation (ALN)
51% share capital in Athena Group
American Lorain Corporation (NYSE MKT: ALN) ("American Lorain" or the "Company"), an international processed snack foods, convenience foods, and frozen foods company based in the Shandong Province, China, today announced that it has acquired 51% share capital in Athena Group ("Athena"), a France based prepared foods manufacturer and distributor with a diversified product portfolio including chestnuts, bean sprouts, as well as a variety of other Asian imported food products, for an aggregate cash consideration of 1,500,000, or approximately US$2,032,050.
American Lorain is a food manufacturing company. Co. develops, manufactures and sells chestnut products, convenience foods (including ready-to-cook (RTC) foods, ready-to-eat (RTE) foods, and frozen food products. Co.'s chestnut products include its frozen chestnuts. The majority of Co.'s chestnut products do not contain chemical additives. Co.'s convenience food products are characterized as follows: RTC food products, which can be served after a few cooking procedures; RTE food products, which can be served without any cooking. Co. produces a range of frozen foods, mostly frozen vegetables and frozen fruits.
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Strong Buy (4.00 out of 4)
(ranked higher than approx. 99% of all stocks covered)
Based on Zacks ABR data;
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