Initial Capacity for 1.5 Billion Per Year
LIVINGSTON, N.J., Dec. 7 /PRNewswire-FirstCall/ -- MM2 Group, Inc. (OTC Bulletin Board: MMGP) announced today that its wholly-owned subsidiary, Genotec Nutritionals, Inc., a New York based nutraceutical company which generates its sales from the distribution of its branded products and through custom formulations for several large strategic partners, has entered into a strategic venture to manufacture sofgel capsules in Zhongsan City, China.
The current capacity of the state of the art plant is 1.5 billion capsules per year. The plant was designed and built according to the latest cGMP requirements, in full compliance with both U.S. and China standards. The plant is capable of expanding capacity to 5 billion sofgel capsules per year.
Genotec's partner in this new venture is Anshi Pharmaceutical (Zhongsan) Inc. of China.
Anshi Pharmaceutical is a well regarded company in China. Its Executive Chairman, Mr. Xiaoxian Xu, is a famous entrepreneur in China who previously founded Livzon Pharmaceutical Group, a well known publicly-traded pharmaceutical company in China. Anshi is well positioned to provide research and development, manufacturing, and export services to the pharmaceutical and nutraceutical industries in the United States.
George Kontonotas, President of Genotec, stated, "We are very excited about this venture. The plant is a China SFDA certified facility that complies with cGMP manufacturing standards. These high standards, which allow the plant to currently manufacture pharmaceuticals, make this among the highest quality plants which can be found manufacturing products in the nutritional supplement marketplace."
Mark Meller, CEO of MM2 Group, commented, "We have already met with
some of the largest users of sofgels in the nutritional supplement market.
Our current focus is to supply large quantities of Vitamin E capsules to
several users. We are now negoti
|SOURCE MM2 Group, Inc.|
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