to China's urban regions. The Company anticipates receiving over $8 million of relocation cost reimbursements and proceeds from the sale of certain of its existing properties. These funds would be used to underwrite the development of a new single-site facility. The Company expects these new facility development activities to: 1) attract regional tax and development incentives; 2) significantly improve JPI's operational efficiencies; 3) support the retention of highly qualified employees; and 4) lower overall operational costs. The relocation process is expected to take up to 24 months and will be implemented in a manner that will not disrupt existing operations, product manufacturing and/or distribution.
Mr. MacLellan continued, "Guided by an aggressive business strategy and quarterly objectives¸ AMDL is in the strongest position the business has ever been in its history. With the support of our incredibly strong team, both in the U.S. and China, we have complete confidence the Company will meet, and possibly exceed, our Corporate and financial targets for 2009. We look forward to a strong year for our customers, partners, employees and shareholders."
Headquartered in Tustin, CA with operations in Shenzhen, Jiangxi, and Jilin, China, AMDL, Inc., along with its subsidiary Jade Pharmaceutical Inc. (JPI), is a vertically integrated bio-pharmaceutical company devoted to the research, development, manufacturing, and marketing of diagnostic, pharmaceutical, nutritional supplement, and cosmetic products. The company employs approximately 500 people in the U.S. and China.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this document include certain predictions and projections that may be considered forward-looking statements under securities laPage: 1 2 3 4 5 6 Related biology technology :1
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. AMDL, Inc. Closes Private Placement of Convertible Notes5
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. AMDL, Inc.s President & CEO Mr. Gary Dreher Retires9
. AMDL, Inc. Names Douglas MacLellan as Executive Chairman & CEO10
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. AMDL, Inc. New President & CEO Douglas MacLellan to Present at Rodman & Renshaw Annual Global Investment Conference November 12, 2008