Contel Enters Multi-Billion Dollar US Produce Market
(firmenpresse) - BLOOMFIELD TOWNSHIP, MI -- (Marketwired) -- 05/05/17 -- ProGreen US, Inc. (ProGreen), (OTCQB: PGUS),, (at)ProGreenUS, is a US company engaged primarily with investments in agricultural and real estate projects in Baja California, Mexico, both through its joint venture partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) and through its majority-owned Mexican subsidiary Procon Baja JV (Procon), .
ProGreen is pleased to announce that Contel has now completed the planting of approximately 1.4 million chili pepper seedlings on 60 of the 100 acres at Arenoso, the first ProGreen Farm, south of El Rosario, Baja California, Mexico. Additional seedlings will be planted on the remaining 40 acres over the coming weeks in order to stagger the harvest for operational efficiency.
The plants, currently about 8 inches in height, will be ready for the first cut of the harvest beginning in July.
This first $1.1M+ chili pepper contract on 100 acres for Agricola Consuela, a direct exporter/importer to the U.S., establishes Contel as a producer in a $12 billion market for imports of fruit and vegetables to the U.S. from Mexico. With an estimated 4,000 - 5,000 acres of farmable land available, Contel has set goals for rapid expansion of the farming operation, with a planned increase of 300% in 2018.
U.S. imports of fresh and processed fruit & vegetables from Mexico totaled $12 billion in 2016, including fresh vegetables ($5.6 billion), other fresh fruit ($4.9 billion), and processed fruit & vegetables ($1.5 billion). (source: )
PROGREEN US, INC., , based in Bloomfield, Michigan, is engaged primarily with investments in agricultural and real estate projects in Baja California, Mexico, both through its joint venture partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) as well as through its majority-owned Mexican subsidiary Procon Baja JV (Procon). Contel is now active in the high margin produce industry, growing crops for exporters to the US market, with an abundance of land available for expansion under our JV partnership. Procon has recently acquired 5,100 acres of land with 4.7 miles of oceanfront on the Bay of El Rosario, for which a master plan is being drawn for the development of a very large, totally green, international vacation and retirement community called "Cielo Mar."
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This press release might contain information, which may constitute ''forward-looking statements'' within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. ''Forward-looking statements'' are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks, uncertainties and other factors that could cause actual results or events to differ materially from those anticipated.
Jan Telander
President and CEO
Phone: 1 (248) 805-3652
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Datum: 05.05.2017 - 07:52 Uhr
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News-ID 1502717
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Farming
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