Saturday, April 3, 2010

Hiru Corporation

Hiru Corporation: New Agreement To Bring $1.5 Million USD Annually

FUZHOU CITY, CHINA, Hiru Corporation (HIRU; and its subsidiary Jiangxi RongYu Pharmaceutical Group, Inc. ( signed an agreement with the National Forestry Academy to jointly develop a Gutta Percha tree plantation. The agreement also extends to the purchase of company's existing Eucommia tree products.
The agreement binds RongYu Pharmaceutical and the National Forestry Academy to jointly develop Gutta Percha tree plantation for industrial use. The National Forestry Academy developed patented technology for production of Gutta Percha. Gutta Percha tree, native to South-East Asia, produces sap used for latex production, and manufactures commonly use this form of latex to make car tires.
Further, the agreement also extends to the industrial use of Jiangxi RongYu Eucommia tree products. Jiangxi RongYu Pharmaceutical recently build Eucommia tree plantation on almost 20 acres of land, and agreement involves purchase of these products for industrial use.
Jiangxi RongYu expects that this important strategic cooperation agreement will raise the company's annual income, yielding approximately $1.5 million USD or 10 million RMB annually.