Furthermore, the Company is into preliminary talks with several Argentinian companies engaged in large scale corn production and supply of high-tech mechanized corn production equipment for a possible joint venture with the Company for large scale corn production and processing here in the country. Argentina has been known to be one of the leading countries in successfully utilizing modern technology and advanced farming practices in corn production. The planned large scale corn production is intended to complement the previously signed supply agreement with NABCOR by creating high quality and sustainable source of corn inputs.
The Company has also been approached by several foreign governments who are interested in long term purchase contracts through the process of importing corn from the Philippines through Calata Corporation once the planned large scale corn production pushes thru. The corn supply imported from the Calata Corporation shall be intended for their domestic animal feeds industry and also for their biofuels production.
The Company shall be disclosing all the developments as well as all agreements which shall be entered into as soon as they have been formally executed.
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