After acquiring the rights to use 85,880 square meters of new land in Changle Economic and Technology Development Zone in April 2007, Shengtai Pharmaceutical planned to develop the land and build a new glucose production complex with an expected production capacity of 150,000 tons per year. The Company commenced construction in early July 2007 and expects construction to be completed in the first half of calendar year 2008. "Nevertheless, among our total 253,746 square meters of land, approximately only 60% is being utilized, leaving room for future expansion," said Mr. Zhang.
"The 2008 fiscal year presents tremendous opportunities for Shengtai Pharmaceutical, as we expect higher living standards, rising purchasing power, public awareness of quality health care products will continue to lead to higher consumption of pharmaceutical dextrose," said Mr. Zhang. "We believe that through manufacturing innovative products to meet market demand, we would be able to command higher profit margins and diversify our operating risks."
About Shengtai Pharmaceutical, Inc.
Shengtai Pharmaceutical, Inc. through its wholly-owned subsidiary
Shengtai Holding, Inc. (SHI), a New Jersey corporation, and the holding
company for Weifang Shengtai Pharmaceutical Co., Ltd., is a leading
manufacturer and supplier of glucose products, which include pharmaceutical
grade glucose used for medical purposes, and glucose and cornstarch
products for the food and beverage industry and for industrial production
in China. For more information about Shengtai Pharmaceutical, Inc. please
|SOURCE Shengtai Pharmaceutical, Inc.|
Copyright©2007 PR Newswire.
All rights reserved