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In the latest report published by China's Administration of QualitySupervision, Inspection and Quarantine (AQSIQ) on September 16, 2008, it wasrevealed that the infant formula milk powder products of 22 dairymanufacturers (website of the list attached below) were tested and foundcontaminated by melamine. Meanwhile, another 87 dairy manufacturers inspectedwere announced safe. Among the 87 manufacturers, the Company's whollyinvested subsidiary, Tianjin Yayi Industrial Co., Ltd., was listed as the 78th(website of the list attached below).
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Ms. Liu Li, the Chairlady and Chief Executive Officer of Yayi Intl.,stated: ''Product quality and safety have always been the concern of Yayi, andthe safety and health of consumers have always been at the forefront of ourminds. In our production process, we have been applying in-house standardswhich are higher than the national standards. We have also continued toimprove our in-house standards along with our development. As a manufacturerof infant formula milk powder products, we are very clear and serious aboutthe social commitments we are undertaking, and we have been committed to boththe production and distribution of our products.''
The 22 manufacturers disclosed as contaminated include most of the top tendairy manufacturers in China, which are all encountering credit crisis.Meanwhile, Yayi Intl.'s pass of the inspection has provided a permit for YayiIntl. to grab more market share in China's infant formula milk powder market.Ms. Liu Li stated: ''After the event of melamine contamination, the marketdemand for our products is growing and a special opportunity for developmentis in front of us. We will stick to our high product quality and provideconsumers with more reliable products.''
Forward Looking Statements:
Certain statements in this release and other written or oral statementsmade by or on behalf of the Company are ''forward looking statements'' withinthe meaning of the federal securities laws. Statements regarding futureevents and developments and our future performance, as well as management'sexpectations, beliefs, plans, estimates or projections relating to the futureare forward-looking statements within the meaning of these laws. The forwardlooking statements are subject to a number of risks and uncertainties. Forfurther information regarding these risks and uncertainties and thetransaction described in this press release, see Ardmore's Current Report onForm 8-K filed with the SEC on June 12, 2008 and in particular, the sectionentitled ''Risk Factors''. The actual results the Company achieves may differmaterially from any forward-looking statements due to such risks anduncertainties. These statements are based on our current expectations andspeak only as of the date of such statements.List of the 22 product-contaminated manufacturers: http://www.aqsiq.gov.cn/zjxw/zjxw/zjftpxw/200809/t20080916_89958.htm List of the 87 product-safe manufacturers: http://www.aqsiq.gov.cn/zjxw/zjxw/zjftpxw/200809/t20080916_89958.htm
SOURCE Yayi International Inc.
