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The new glucose production facility has an annual production capacity of120,000 tons. Combining this new capacity with our existing glucose plant, wehave the ability to produce up to 180,000 tons of glucose on an annual basisand can be expanded up to 210,000 tons, if necessary. "The GMP certificationis an important milestone for our glucose production process," said Ms. YiruMelody Shi, Shengtai's Chief Financial Officer. "With this new glucosefacility, we are now commencing operations in stages and will gradually rampup production to expand our offerings to the pharmaceutical and food andbeverage industry."
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"GMP is the standard in quality assurance in the pharmaceutical industry.It is a major achievement for Shengtai to pass the rigorous inspection andreceive the GMP certification just two months after the facility's completionin July 2008," said Mr. Qingtai Liu, Chairman and CEO of ShengtaiPharmaceutical. "We now have a plant with the design capability forlarge-scale production of high-quality glucose as well as a solid platformfrom which we can grow a sustainable business."
About Shengtai Pharmaceutical, Inc.
Shengtai Pharmaceutical, Inc. through its wholly-owned subsidiary ShengtaiHolding, Inc. (SHI), a New Jersey corporation, and the Chinese operatingcompany of Weifang Shengtai Pharmaceutical Co., Ltd., is a leadingmanufacturer and supplier of pharmaceutical grade glucose used for medicalpurposes, and the glucose and cornstarch products for the food and beverageindustry and for industrial production in China. For more information aboutShengtai Pharmaceutical, Inc., please visithttp://www.shengtaipharmaceutical.com .
Forward-looking Statements
Certain statements made in this news release, may contain forward-lookingstatements concerning the Company's business and products. These statementsinclude, without limitation, statements regarding our ability to prepare thecompany for growth, the Company's planned capacity expansion in 2008 andpredictions and guidance relating to the Company's future financialperformance. We have based these forward-looking statements largely on ourcurrent expectations and projections about future events and financial trendsthat we believe may affect our financial condition, results of operations,business strategy and financial needs but they involve risks and uncertaintiesthat could cause actual results to differ materially from those in theforward-looking statements, which may include, but are not limited to, suchfactors as unanticipated changes in product demand especially in thepharmaceutical industry, pricing and demand trends for the Company's products,changes to government regulations, risk associated with operation of theCompany's new facilities, risk associated with large scale implementation ofthe company's business plan, the ability to attract new customers, ability toincrease its product's applications, cost of raw materials, downturns in theChinese economy, and other information detailed from time to time in theCompany's filings and future filings with the United States Securities andExchange Commission. Investors are urged to consider these factors carefullyin evaluating the forward-looking statements herein and are cautioned not toplace undue reliance on such forward-looking statements, which are qualifiedin their entirety by this cautionary statement. The forward-looking statementsmade herein speak only as of the date of this press release and the Companyundertakes no duty to update any forward-looking statement to conform thestatement 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 Tel: +1-949-468-7078 Email: [email protected] Grayling Global Eddie Cheung / Dixon Chen Investor Relations Tel: +1-646-284-9414 Email: [email protected]
SOURCE Shengtai Pharmaceutical, Inc.
