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 in China that supplies the domestic bulk additive market."
About China-Biotics, Inc.
Headquartered in Shanghai, China-Biotics, Inc. ("China-Biotics", "the Company") was founded in 1999 and is one of China'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 in Shanghai, Jiangsu and Zhejiang. Shining is one of the most recognized brands in Shanghai. China-Biotics plans to expand its retail sales to other major cities in China 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
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|SOURCE China-Biotics, Inc.|
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