Weifang Shengtai Purchased MVR Evaporator for Energy and C... ( WEIFANG Shandong span class x.....)

Weifang Shengtai Purchased MVR Evaporator for Energy and Cost Saving

Date:8/5/2010

WEIFANG, Shandong, China, Aug. 6 /PRNewswire-Asia-FirstCall/ -- Shengtai Pharmaceutical, Inc. (OTC Bulletin Board: SGTI) announced today that on August 3, 2010, Weifang Shengtai Pharmaceutical Co., Ltd ("Weifang Shengtai"), its operating subsidiary in China, entered into an agreement with Jiangsu Zongheng Drying Equipment Co., Ltd. ("Jiangsu Zongheng") to purchase a 30T/MVR Glucose Evaporator ("the MVR Evaporator") that will help reduce total energy consumption and enhance production efficiency at Weifang Shengtai.

The MVR Evaporator consists of an automatic control system and other highly efficient parts and structures. While it consumes more electricity, it will consume less steam and in net, will reduce total costs in the process of evaporation. According to the Exchange rate on August 3, it will cost Weifang Shengtai 1.7 million USD to purchase and install the MVR Evaporator. The total cost of 1.70 USD includes the contract purchase prices of 1.55 million USD and the purchase price of 0.15 million USD of the accessories. Recognizing the MVR Evaporator as a major energy-saving project, the National Development and Reform Commission of the Chinese Central Government will award Weifang Shengtai 0.53 million USD in a one-time payment, as a result, the total costs of the MVR Evaporator project will reduce to 1.17 million USD, which in turn will be fully recovered by the operational cost saving wi
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SOURCE Shengtai Pharmaceutical, Inc.
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