Attached files
file | filename |
---|---|
8-K - CHINA-BIOTICS, INC | v194071_8-k.htm |
China-Biotics
to Build New Facility to Produce Probiotics
and
Related Products for the Animal Feed Industry in Shanxi Province
SHANGHAI, August 16, 2010 - China-Biotics, Inc. ("China-Biotics," the "Company") (Nasdaq: CHBT), a leading
developer, manufacturer and distributor of probiotics products in China, today
announced that the Company plans to build a new facility dedicated to the
production and sale of probiotics and related products for the animal feed
industry in Yangling Agricultural High-tech Industries Demonstration Zone in
Shanxi Province.
The new
facility will be located on 126 mu (1 mu = 0.0667
hectares) inside the Yangling Agricultural Hi-tech Industries Demonstration Zone
in the Shanxi Province of China. The Company estimates that construction of the
new facility will be completed within two years.
Once
operational, the new facility will enjoy a favorable tax holiday for its first
three years and half the standard tax rate in the following year. The Company is
currently in discussions with leading domestic and multinational agricultural
companies for potential partnership in this project.
Mr. Jinan
Song, Chairman and Chief Executive Officer of China-Biotics, commented, "After
nearly 3 years of thorough study and testing of probiotics strains for animal
feed products and refining our proprietary fermentation technology, we have
reached a new stage that allows us to commercialize our research achievements.
The establishment of this animal feed probiotics facility, which can become the
second engine to propel our long-term growth, will mark another milestone for
China-Biotics as we confidently march into the vast Chinese animal feed
market.”
“Probiotics
have been identified by the National Development Reform Commission as a major
solution to address the overuse of antibiotics in livestock and fish
farms. As China continues to face a scarcity of domestically supplied
enzymes and fermented animal feed, our new animal feed probiotics production
base with proprietary fermentation technologies will make a timely entrance into
the marketplace," Mr. Song concluded.
About
Yangling Agricultural High-tech Industries Demonstration Zone
Initiated
by 20 central government ministries and commissions, as well as the Shanxi
Provincial Government, the Yangling Agricultural High-tech Industries
Demonstration Zone was approved by the State Council in July 1997 as the only
state-level agricultural high-tech industries demonstration zone in China.
Yangling serves as the hub for leading industries in plant and animal breeding,
environment conservation, agricultural materials, green food and
bio-pharmaceuticals. Among over 1000 companies that have already established
facilities in Yangling High-tech Industries Demonstration Zone, there are
Fortune Global 500 companies Amorim, Cargill and Mitsui as well as Chinese soft
beverage giant Huiyuan. For more information, please visit
en.yangling.gov.cn.
About
China-Biotics
China-Biotics,
Inc. ("China-Biotics," the "Company"), a leading manufacturer of biotechnology
products and supplements, engages in the research, development, marketing and
distribution of probiotics dietary supplements in China. Through its wholly
owned subsidiary, Shanghai Shining Biotechnology Co., Ltd., the Company develops
and produces its proprietary product portfolio, including live microbial
nutritional supplements under the "Shining" brand. Currently, the products are
sold OTC through large distributors to pharmacies and supermarkets in Shanghai,
Jiangsu, and Zhejiang province. In February 2010, China-Biotics began its
commercial production in China's largest probiotics production facility to meet
growing demand in China. For more information, please visit
www.chn-biotics.com.
Safe
Harbor Statement
The
information in this release contains forward-looking statements which involve
risks and uncertainties, including statements regarding the Company's capital
needs, business strategy and expectations. Any statements contained herein that
are not statements of historical fact may be deemed to be forward-looking
statements, which may be identified by terminology such as "may," "should,"
"will," "expect," "plan," "intend," "anticipate," "believe," "estimate,"
"predict," "potential," "forecast," "project," "continue," or the negative of
such terms or other comparable terminology. Readers should not rely on
forward-looking statements as predictions of future events or results. Any or
all of the Company's forward-looking statements may turn out to be wrong. They
can be affected by inaccurate assumptions, risks and uncertainties and other
factors which could cause actual events or results to be materially different
from those expressed or implied in the forward-looking statements. In evaluating
these statements, readers should consider various factors, including the risks
described in "Item 1A. Risk Factors" beginning on page 17 and elsewhere in the
Company's 2010 Annual Report on Form 10-K. These factors may cause the Company's
actual results to differ materially from any forward-looking statement. In
addition, new factors emerge from time to time and it is not possible for the
Company to predict all factors that may cause actual results to differ
materially from those contained in any forward-looking statements. The Company
disclaims any obligation to publicly update any forward-looking statements to
reflect events or circumstances after the date of this document, except as
required by applicable law.
Contact:
Travis
Cai
Chief
Financial Officer
China-Biotics,
Inc.
Email:
|
traviscai@chn-biotics.com
|
Shiwei
Yin/Kevin Theiss
Grayling
Phone:
|
+1-646-284-9474 |
Email:
|
shiwei.yin@grayling.com
kevin.theiss@grayling.com
|