Farmmi, Inc. Expands North America Operations
The facility spans a total area of 636,000 square feet, with warehouse space covering 315,000 square feet. It also includes a dedicated rail line, enabling sea-rail intermodal transportation. The facility will serve as the major distribution and storage center for the Farmmi group.
Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture products supplier in China, today announced the Company's subsidiary, FARMMI USA INC., has signed a sublease agreement and acquired the right to use a large distribution and storage center in United States to further expand its global business. This marks a significant development for Farmmi's U.S. operations.
Pursuant to the agreement, Farmmi USA Inc. has the right to use the leased premises of the storage center located in Los Angeles area, California, which is managed by Ryder Truck Rental inc., a subsidiary of Ryder System, Inc., a leading logistics and transportation company in the U.S. (NYSE: R). The facility spans a total area of 636,000 square feet, with warehouse space covering 315,000 square feet. It also includes a dedicated rail line, enabling sea-rail intermodal transportation. The facility will serve as the major distribution and storage center for the Farmmi group.
Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, stated that the company has been committed to increasing its global present in recent years. Obtaining the right to use a large storage center represents a major breakthrough towards the company's globalization goals and is a milestone achievement. Leveraging this facility, Farmmi, Inc. aims to further expand international cooperation and create greater value for its shareholders.
About Farmmi, Inc.
Established in 1998, Farmmi Inc. (Nasdaq: FAMI) is an agricultural products supplier, processor and retailer of edible mushrooms like Shiitake and Mu Er, as well as other agricultural products. Farmmi sells its products both online and offline. For further information about the Company, please visit Farmmi's website.
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