Business
RANG DONG SIGNS LETTER OF INTENT TO DEVELOP MAJOR AGRICULTURAL VENTURE WITH MONTAGUE INTERNATIONAL HOLDING LTD (OTC -PINK:MIHL
RANG DONG SIGNS LETTER OF INTENT TO DEVELOP MAJOR AGRICULTURAL VENTURE WITH MONTAGUE INTERNATIONAL HOLDING LTD (OTC -PINK:MIHL.
About this update from Montague International Holding Ltd
[{"type":"text","content":"Montague (OTC-PINK:MIHL), is pleased to announce that it has entered into a strategic partnership with Rang Dong Joint Stock Company of the Peoples Republic of Vietnam, a natural resource project management company with a keen focus on agriculture and mining. Montague will take the lead in developing a modern domestic cotton industry to be located in Bihn Thahn Province. Vietnam has a thriving textile industry and the agricultural aspect will increase profitability and productivity\n \nPer the Letter of Intent, Montague will advise Rang Dong on project design and market strategies, specifically in areas of large scale cotton cultivation, harvesting and ?ginning? or processing the raw cotton as well as develop channels of distribution for both domestic usage and export. In addition to marketing strategies, Montague will also provide support and direction with press releases and general business guidance for Rang Dong, as the company navigates the commercial cotton industry.\n \n\"Rang Dong is an innovative leader in this exciting period of Vietnam?s economic revival ... it will be amongst the first companies of Vietnamese origin to be involved in the mechanized fiber industry? said, Robert Ringold Chairman of the Board and Vice President of Business Development (OTC-PINK:MIHL). ?We plan to begin with 3700 acres and estimated that 18,500 acres will be under cultivation by 2018, this project is valued at approximately 72 million US Dollars based on the initial acreage under cultivation.? \n \nIn Vietnam, cotton has been typically grown in small family holdings using hand operated equipment. The new approach will increase productivity and sustain a growing textile manufacturing sector. By partnering with Montague, Rang Dong will increase its presence in agriculture and help to create much needed manufacturing jobs \n \nABOUT RANG DONG\n \nRang Dong Group was first established in 1991 and operates in many facets of the construction industry. Areas of involvement include: Mineral exploitation; Production of construction materials; Furniture; Mechanical Engineering; Afforestation; Rubber plantations; Residential area development; Leisure and Tourism industry development, including resorts, hotels, and golf courses.\n \nCurrently, Rang Dong Group is ...