China Biologic Products Begins Annual Maintenance of its Production Facilities
August 01 2008 - 8:00AM
PR Newswire (US)
TAIAN CITY, Shandong, China, Aug. 1 /Xinhua-PRNewswire-FirstCall/
-- China Biologic Products, Inc. (OTC:CBPO) (BULLETIN BOARD: CBPO)
("CBP," or the "Company"), one of the leading plasma-based
pharmaceutical companies in the People's Republic of China ("PRC"),
today announced that the Company began its annual maintenance of
its production facilities on July 25, 2008. The maintenance period
will last for one month, during which time production at the
manufacturing facilities will be suspended. During the required
maintenance period, the Company will conduct any required major
maintenance of its production equipment to ensure the efficiency
and safety of subsequent production. The Company will also take
advantage of the maintenance period to train its staff, and allow
them to take proper vacation time as required by Chinese labor
laws. In addition, since the manufacturing process known as
Compression and Filtration in Cold Ethanol Fractionation for human
plasma albumin and immunoglobulin related products requires
constant low temperature, CBP has carefully planned its maintenance
period to fall during the hottest days of summer in order to
conserve energy and curtail expenses related to recent increases in
fuel costs. CBP has sufficient product inventories on hand to meet
market demand during the maintenance period. In addition, operation
of the Company's plasma collection stations will continue as usual
to ensure that the manufacturing facilities can resume their normal
operations at the end of the maintenance period. "We chose to
conduct the maintenance period in the summer when production costs
are usually at the highest," said Mr. Chao Ming Zhao, the Company's
CEO. "The annual routine maintenance of our manufacturing
facilities is not expected to affect our sales revenue in the third
quarter, as we have stocked sufficient inventories to meet our
projected demand." About China Biologic Products, Inc. Through its
indirect majority-owned subsidiary Shandong Taibang Biological
Products Co. Ltd., China Biologic Products, Inc. (the "Company"),
is principally engaged in the research, development, production and
manufacturing and sale of plasma-based biopharmaceutical products
to hospitals and other health care facilities in China. The
Company's human albumin products are mainly used to increase blood
volume and its immunoglobulin products are used for the treatment
and prevention of diseases. Safe Harbor Statement This release may
contain certain "forward-looking statements" relating to the
business of China Biologic Products, Inc. and its subsidiary
companies. All statements, other than statements of historical fact
included herein are "forward-looking statements," including
statements regarding: the impact of the maintenance on the
Company's third quarter revenues; the ability of the Company to
achieve its commercial objectives; the business strategy, plans and
objectives of the Company and its subsidiaries; and any other
statements of non-historical information. These forward-looking
statements are often identified by the use of forward-looking
terminology such as "believes," "expects" or similar expressions,
involve known and unknown risks and uncertainties. Although the
Company believes that the expectations reflected in these
forward-looking statements are reasonable, they do involve
assumptions, risks and uncertainties, and these expectations may
prove to be incorrect. Investors should not place undue reliance on
these forward-looking statements, which speak only as of the date
of this press release. The Company's actual results could differ
materially from those anticipated in these forward-looking
statements as a result of a variety of factors, including those
discussed in the Company's periodic reports that are filed with the
Securities and Exchange Commission and available on its website (
http://www.sec.gov/ ). All forward-looking statements attributable
to the Company or persons acting on its behalf are expressly
qualified in their entirety by these factors. Other than as
required under the securities laws, the Company does not assume a
duty to update these forward-looking statements. Company Contact:
Mr. Y. Tristan Kuo CFO China Biologic Products, Inc. Tel:
+86-538-6202206 Email: Web: http://www.chinabiologic.com/ Investor
Relations Contact: Mr. Crocker Coulson President CCG Investor
Relations Tel: +1-646-213-1915 (NY office) Email: Web:
http://www.ccgir.com/ DATASOURCE: China Biologic Products, Inc.
CONTACT: Company Contact: Mr. Y. Tristan Kuo, CFO of China Biologic
Products, Inc., +86-538-6202206, or ; Investor Relations Contact:
Mr. Crocker Coulson, President, or CCG Investor Relations, +1-646-
213-1915 (NY office), or Web Site: http://www.chinabiologic.com/
http://www.ccgir.com/
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