Astron Connect Inc. Signs Memorandum of Understanding with Junding Industrial Co. at Inaugural China International Import Expo
VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec 17, 2018--Astron Connect Inc. (the “Company” or “Astron”) (TSX-V:AST) today announced it has signed a memorandum of understanding (MOU) with Junding Industrial Co., an influential beverage supplier in the Northern Zhejiang region of China. The agreement was reached at the first China International Import Expo (CIIE) in Shanghai and is valued at as much as $3 million USD, with an opportunity to grow further based on demand.
“We’re excited to expand our partnership with Junding Industrial,” said Randall Smallbone, President and CEO of Astron Connect. “Junding’s knowledge and sales network has already produced great results for our Sachiel Water brand in Northern Zhejiang. This increased relationship will allow our food and beverage brands to further penetrate the Chinese market, while satisfying the growing demand for authentic, high-quality Canadian products among the middle- and upper-class in the country.”
Astron sent a senior delegation, led by founder and COO Bei Nie, to the inaugural CIIE to expand its network of food and beverage importers who distribute Sachiel Water and the company’s related brands. The expo is an initiative of the Chinese government to support trade liberalization and open its market to the world.
Astron also announced that it has added Fei Chu to the company’s Audit Committee as an independent board member. Wei Kang will step down from the Audit Committee but remain a member of Astron’s Board of Directors.
Ms. Chu is a procurement director in the Fresh Food Department of Beijing Hema Fresh Network Technology Co., a subsidiary of Alibaba Group Holdings. She has over 20 years’ experience in food and beverage procurement, and particular expertise working with international suppliers. Previously, Ms. Chu has worked for Beijing Jingdong Century Trading Co. and the purchasing department of Sam’s Club, a subsidiary of Walmart.
ABOUT ASTRON CONNECT
Astron Connect (TSX-V:AST) helps Canadian enterprises in the food and beverage industry break through the noise and bring their products to new international markets in the emerging world. Astron is the parent company of Sachiel Connect and Sachiel Water. Sachiel Connect brings Canadian food and beverage companies to the world through its extensive connections and export logistics capabilities in China and emerging markets. Sachiel Water supplies China and other emerging markets with pure Canadian bottled spring water. For more information, visit www.astronconnect.com.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20181217005384/en/
CONTACT: S. Randall Smallbone
President and CEO
KEYWORD: ASIA PACIFIC NORTH AMERICA CANADA CHINA
INDUSTRY KEYWORD: RETAIL FOOD/BEVERAGE
SOURCE: Astron Connect Inc.
Copyright Business Wire 2018.
PUB: 12/17/2018 09:00 AM/DISC: 12/17/2018 09:01 AM