REDWOOD CITY, CA--(Marketwire - Feb 20, 2013) - Yasheng Group ( OTCQB :
HERB ), a diversified China-based agricultural conglomerate with US
headquarters in California, today announced that it has entered into a
joint venture agreement with Greenphil Aquaculture and Hydroponic
Holding Inc, a Philippines company.
The joint venture is set up to explore the development of land-based
projects in Southeast Asia, particularly in the Philippines, in areas
such as sustainable aquaculture and hydroponics, industrial seafood
processing, agriculture, natural resources, and any forms of
environmental services including 500,000 Hectares of land for
terrestrial carbon credit projects. This joint venture between the two
companies is an opportunity to put together the
impressive track record of Yasheng Group in industrial agriculture
and Greenphil's successful operation in providing sustainable
aquaculture, hydroponics, and land management in key biogeographic areas
around the world.