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China-Biotics, Inc. Completes Foundation for Its New Plant
China-Biotics, Inc. Completes Foundation for Its New Plant
SHANGHAI, China, May 9 /Xinhua-PRNewswire-FirstCall/ -- China-Biotics, Inc.
(OTC Bulletin Board: CHBT) ("China-Biotics," "the Company"), a leading Chinese
firm specializing in the manufacture, research, development, marketing and
distribution of probiotics products, today announced it completed the
foundation work for its new plant at Qing Pu,Shanghai.
"The new plant which has a 150 MT capacity is the cornerstone of our
growth strategy. We have put over 1,000 pilings in the ground over the last
couple of months. We are pleased that the piling work is complete and we have
laid a solid foundation on which to build this plant," said Mr. Jinan Song,
Chairman and Chief Executive Officer of China-Biotics. "We have started
building the factory infrastructure which we hope to complete by the end of
third quarter this year. We have already placed orders for all major equipment
that we need."
"The new plant has a steel structure and the equipment will also be
largely made of steel. With rising Renminbi and steel prices, the construction
costs are expected to escalate. Despite this, we believe that our new plant
will remain one of the cheapest of its kind," said Mr. Song. "When completed
during the 2009 fiscal year, it will be the only large-scale probiotics plant
inChina that supplies the domestic bulk additive market."
About China-Biotics, Inc.
Headquartered inShanghai, China-Biotics, Inc. ("China-Biotics", "the
Company") was founded in 1999 and is one ofChina's largest suppliers of
probiotics. Probiotics are beneficial live bacteria used as dietary
supplements and food additives to improve intestinal health and digestion. The
Company's product portfolio contains live microbials made with proprietary
technology. Currently, these products are sold over-the-counter under the
"Shining" brand through large distributors to more than 1,000 pharmacies and
100 supermarkets inShanghai,Jiangsu andZhejiang. Shining is one of the most
recognized brands in Shanghai. China-Biotics plans to expand its retail sales
to other major cities inChina and is launching 300 Shining brand logistic
centers in these cities. The Company's flagship product, "Shining Essence",
has been a profit driver since its launch in April 2001. There is a
significant demand for probiotics for use in the bulk additive market, which
is currently met by imports. China-Biotics is building a new plant which will
increase its production capacity manifolds to capture this market. For more
information, please visit http://www.chn-biotics.com .
Safe Harbor Statement Under the Private Securities Litigation Reform Act
of 1995: Any statements set forth above that are not historical facts are
forward-looking statements that involve risks and uncertainties that could
cause actual results to differ materially from those in the forward-looking
statements. Such factors include, but are not limited to, the Company's
ability to market existing and new products, ability to access to capital for
expansion, and changes from anticipated levels of sales, future national or
regional economic and competitive conditions, changes in relationships with
customers, dependence on its flagship product profits and other factors
detailed from time to time in the Company's filings with the United States
Securities and Exchange Commission and other regulatory authorities. The
Company undertakes no obligation to publicly update or revise any forward-
looking statements, whether as a result of new information, future events or
otherwise.
For more information, please contact:
CCG Elite Investor Relations
Crocker Coulson, President
Phone: +1-646-213-1915 (New York)
Email: crocker.coulson@ccgir.com
Website: http://www.ccgelite.com
SOURCE China-Biotics, Inc.
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
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