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The environmentally-friendly strategies are expected to significantlylower electricity and water usage of the production facility. The Companyintends to spend $0.8 million to apply new technology to the facility's boilersystems, vapour systems and cooling drainage systems. These changes areexpected to significantly reduce the cost of steam, heating and water used inthe manufacturing process by 50%, 60% and 50%, respectively.
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"As a result of implementing these strategies, Enze is expected to lowerannual manufacturing expenses by RMB 8 to 10 million (approximately $US 1 to1.4 million). This will not only improve our margins but has the added benefitof reducing the amount of energy used at the facility, which is good for theenvironment," said Dr. Zhongyi Liu, Chairman, CEO and President of LotusPharmaceuticals, Inc.
About Lotus Pharmaceuticals, Inc.
Lotus Pharmaceuticals, Inc. ("Lotus") controls and operates LiangfangPharmaceutical, Ltd. ("Liangfang") and Enze Jiashi Pharmaceutical, Ltd.("Enze"), two Chinese pharmaceutical companies located in Beijing. Liangfangand Enze form a large comprehensive enterprise, which deals in an integrationof the production, trade, sales and marketing of pharmaceuticals. Together,they possess some of the most advanced pharmaceutical-production equipmentused in China, workshops authenticated by the National GMP, a suite of variousmedicines produced by Liangfang and/or Enze (together, "Lotus East"), and anumber of high-tech personnel. Lotus East has business and office facilitiesof 2,000 square meters, warehouse of 1,000 square meters and operates tenretail pharmacies in the Beijing area. Lotus East performs scientific researchon new medicines, and the production, wholesale and retail sale of medicines.For more information, visit http://www.LotusEast.com.
Safe Harbor Statement
Certain statements set forth in this press release constitute "forward-looking statements". Forward-looking statements include, without limitation,any statement that may predict, forecast, indicate, or imply future results,performance or achievements, and may contain the words "estimate," "project,""intend," "forecast," "anticipate," "plan," "planning," "expect," "believe,""will likely," "should," "could," "would," "may" or words or expressions ofsimilar meaning. Such statements are not guarantees of future performance andare subject to risks and uncertainties that could cause the Company's actualresults and financial position to differ materially from those included withinthe forward-looking statements. The potential risks and uncertainties include,among others, the Company's limited operating history, the limited financialresources, domestic or global economic conditions -- especially those relatingto China, activities of competitors and the presence of new or additionalcompetition, and changes in Federal or State laws, restrictions andregulations on doing business in a foreign country, in particular China, andconditions of equity markets. More information about the potential factorsthat could affect the Company's business and financial results is included inthe Company's filings, available via the United States Securities and ExchangeCommission.
SOURCE Lotus Pharmaceuticals, Inc.
