QINGDAO, China and ROCKVILLE, Md., Feb. 20 /PRNewswire-Asia/ -- Synutra International, Inc. (Nasdaq: SYUT, "Synutra"), a leading infant formula company in China, and a producer, marketer and seller of nutritional products for infants, children and adults, today issued a statement explaining the inclusion of certain production permit numbers in a published list of revoked production permit numbers by China General Administration of Quality Supervision, Inspection, and Quarantine (AQSIQ). The Company had recently filed an application with AQSIQ for the revocation of obsolete production permits due to the dissolution of one of its operating subsidiaries, Qingdao Shengyuan Dairy Co., Ltd. The Company clarifies that all products under the old production permits are being made, distributed and sold by successor company Shengyuan Nutrition Food Co., Ltd. under the new production permit number QS370005020047, which is effective until December 21, 2010.
Synutra President and Chief Operating Officer Weiguo Zhang said, "Technical updates to our production certification are routine business activities and market speculations that we are closing our facilities are groundless and irresponsible. We operate within all applicable laws and regulations within China and in the United States. We are committed to providing our Chinese consumers the highest quality and safest products possible and we strive to continually improve shareholder value."
About Synutra International, Inc.
Synutra operates nine subsidiaries developing, producing, distributing and selling dairy-based nutritional products across the People's Republic of China. It offers its products for infants, children, adults, pregnant women and nursing mothers under the "Sheng Yuan" or "Synutra" master brand and several sub-brands, including "Super," "U-Smart" and "Minshan." The Group's extensive sales network covers 29 provinces and provincial-level municipalities in China, and comprises over 420 distributors and over 1,000 sub-distributors who sell Synutra's products in nearly 63,400 retail outlets.
The information contained herein includes statements, estimates, projections, guidance or outlook that constitute "forward-looking" statements as defined under U.S. federal securities laws. Generally the words "believe," "expect," "intend," "estimate," "anticipate," "plan," "project," "will" and similar expressions, identify forward-looking statements, which generally are not historical in nature. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.
For more information, please contact: Weiguo Zhang of Synutra, Inc. Tel: +1-301-840-3888 Email: firstname.lastname@example.org Web site:http://www.synutra.com Delia Cannan of Taylor Rafferty Tel: +1-212-889-4350 Email: email@example.com
|SOURCE Synutra International, Inc.|
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