Healthy Coffee International, Inc. (PINKSHEETS: HCEI) and Heng Yi Non Gzi Corp. (HYNG) announced that they have finalized an agreement to form a joint venture company in Shenyang, China. Healthy Coffee China will be established by HCEI as a subsidiary which will form a joint venture company with HYNG. The joint venture company will then market Healthy Coffee products to over 35,000 cooperatives managed by HYNG throughout China, whereby each cooperative has a membership base between 1,000 to 5,000 people.
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The agreement was signed by Rick Aguiluz, CEO of Healthy Coffee International, and Mr. Wang, Chairman of HYNG, who flew in from China to sign the agreement in Los Angeles. Dr. Samuel Chung, Medical Consultant of Healthy Coffee USA, witnessed the contract signing. Rick Aguiluz, architect of the Healthy Coffee concept and CEO of Healthy Coffee International, commented: "This is a major breakthrough for Healthy Coffee, and will catapult us to be a major player in the Chinese market. I will be flying to China next month with my team from California, Philippines and Malaysia to speed up the process of setting up the office in Shenyang and establish the joint venture company, then start marketing Healthy Coffee products immediately." Mr. Wang, Chairman of HYNG, added: "We are pleased to have Healthy Coffee as our joint venture partner, and we look forward to a long-lasting business relationship." Ray Pilaro, VP International Business Development of Healthy Coffee USA, added: "With this joint venture, we effectively have a ready market of over 100 million people. If only 1% of them order one bag of our Healthy Coffee each month that will translate to $160 Million per year in revenues." Holmes Stoner, Jr., Chairman of the American International Business Council, with offices in Shenyang, Beijing, Shanghai and Shenzhen, China, said: "A delegation from Shenyang province is arriving in Long Angeles to meet with Rick Aguiluz and his Healthy Coffee International team to discuss how they can support the Healthy Coffee China joint venture in Shenyang."
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