- Dedicated Sales Team Focused on Key Global Markets -
WEIFANG, Shandong, China, Oct. 30 /Xinhua-PRNewswire-FirstCall/ -- Shengtai Pharmaceutical, Inc. (OTC Bulletin Board: SGTI) ("Shengtai" or "the Company"), a leading manufacturer and distributor of high-quality, pharmaceutical grade glucose products in China, today announced that it has restructured its international sales team committed to broaden Shengtai's product sales into selected global markets.
The international sales team is an integral part of our existing sales department as the Company sees growth potential in the overseas markets. Currently, the Company has existing customers in over 70 countries. The new team assumes responsibilities of all aspects of the international sales include research, regulatory affairs, marketing and sales to ensure the successful introduction of the Company's health and other products into targeted international markets. Shengtai's pharmaceutical grade glucose products have wide application in hospitals, clinics and other health-related services.
Recently, the international sales team attended the Guangzhou International Fair and presented Shengtai's products. The response from potential customers at this conference was encouraging.
Shengtai recently received the "Good Manufacturing Practice" (GMP) certificate for its new glucose manufacturing facility. This new facility has an annual production capacity of 120,000 tons and when combined with the existing plant provides the Company with a total annual capacity up to 180,000 tons of glucose. The Company is commencing operations in stages and will gradually ramp up production to expand its offerings.
Mr. Qingtai Liu, Chairman and CEO of Shengtai Pharmaceutical, stated, "Our high-quality products combined with low-cost, state-of-the-art manufacturing provides competitive advantages. We believe these advantages and our new production capacity will allow us to increase exports in targeted international markets."
"The Chinese market continues to represent a good growth opportunity for us as the economy is growing at approximately 8% in 2008. Additionally, the Chinese government is implementing policies to enhance economic growth through revised banking regulations to aid smaller businesses and effect reforms in rural areas to increase personal wealth, " Mr. Liu concluded.
About Shengtai Pharmaceutical, Inc.
Shengtai Pharmaceutical, Inc. through its wholly-owned subsidiary Shengtai Holding, Inc. (SHI), a New Jersey corporation, and the Chinese operating company of Weifang Shengtai Pharmaceutical Co., Ltd., is a leading manufacturer and supplier of pharmaceutical grade glucose used for medical purposes, and the glucose and cornstarch products for the food and beverage industry and for industrial production in China. For more information about Shengtai Pharmaceutical, Inc., please visit http://www.shengtaipharmaceutical.com .
Safe Harbor Statement
Certain statements in this press release and oral statements made by
the Company constitute forward-looking statements. These statements
include, without limitation, statements regarding our ability to prepare
the company for growth, the Company's planned capacity expansion in 2008
and predictions and guidance relating to the Company's future financial
performance. We have based these forward-looking statements largely on our
current expectations and projections about future events and financial
trends that we believe may affect our financial condition, results of
operations, business strategy and financial needs but they involve risks
and uncertainties that could cause actual results to differ materially from
those in the forward-looking statements, which may include, but are not
limited to, such factors as unanticipated changes in product demand
especially in the pharmaceutical industry, pricing and demand trends for
the Company's products, changes to government regulations, risk associated
with operation of the Company's new facilities, risk associated with large
scale implementation of the company's business plan, the ability to attract
new customers, ability to increase its product's applications, cost of raw
materials, downturns in the Chinese economy, and other information detailed
from time to time in the Company's filings and future filings with the
United States Securities and Exchange Commission. Investors are urged to
consider these factors carefully in evaluating the forward-looking
statements herein and are cautioned not to place undue reliance on such
forward-looking statements, which are qualified in their entirety by this
cautionary statement. The forward-looking statements made herein speak only
as of the date of this press release and the Company undertakes no duty to
update any forward-looking statement to conform the statement to actual
results or changes in the company's expectations.
For more information, please contact:
Shengtai Pharmaceutical, Inc.
Ms. Yiru Melody Shi
Chief Financial Officer
|SOURCE Shengtai Pharmaceutical, Inc.|
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