Farmmi, Inc. (NASDAQ: FAMI) had exciting news to share Thursday, as an agriculture products supplier in China announced a successful opening of the Company's warehouse and distribution center in Los Angeles. On the first day of its operations on August 12, the distribution center received warehousing orders for 28 shipping containers. With the grand opening of the warehousing and logistics center, the Company has started a new chapter of its business and development.
In July 2024, the company established its first warehouse and logistics center following the acquisition of the right to use a large storage facility located in Los Angeles, California. After nearly a month of preparation, the logistics center began trial operations on August 12, 2024 and had a successful opening day with the number of customer orders far exceeding management's expectations. In the coming days, the company's American team will accelerate its efforts and strive for greater operating results. To that end, the company's business in North America has entered a rapid development stage.
CEO Yefang Zhang, commented, “Farmmi, a major agricultural products supplier in China, having operated in the Chinese agricultural products industry for more than 20 years, has formed a stable international customer base, and accumulated rich experience in the operation and management of agricultural products supplies and sales.”
FAMI shares closed Wednesday at 54 cents.
