Shengtai Pharmaceutical Receives GMP Certificate for Its New Glucose Manufacturing Facility
October 07 2008 - 11:59AM
PR Newswire (US)
WEIFANG, China, Oct. 7 /Xinhua-PRNewswire-FirstCall/ -- Shengtai
Pharmaceutical, Inc. (OTC:SGTI) (BULLETIN BOARD: SGTI) ("Shengtai"
or "the Company"), a leading manufacturer and distributor of
high-quality, pharmaceutical grade glucose products in China, today
announced that it has received a "Good Manufacturing Practice"
(GMP) certificate for its new glucose manufacturing facility. The
certificate of compliance, issued by the government after a
rigorous inspection process, certifies that pharmaceutical
ingredients manufactured by Shengtai are produced and
quality-controlled according to generally accepted standards. The
new glucose production facility has an annual production capacity
of 120,000 tons. Combining this new capacity with our existing
glucose plant, we have the ability to produce up to 180,000 tons of
glucose on an annual basis and can be expanded up to 210,000 tons,
if necessary. "The GMP certification is an important milestone for
our glucose production process," said Ms. Yiru Melody Shi,
Shengtai's Chief Financial Officer. "With this new glucose
facility, we are now commencing operations in stages and will
gradually ramp up production to expand our offerings to the
pharmaceutical and food and beverage industry." "GMP is the
standard in quality assurance in the pharmaceutical industry. It is
a major achievement for Shengtai to pass the rigorous inspection
and receive the GMP certification just two months after the
facility's completion in July 2008," said Mr. Qingtai Liu, Chairman
and CEO of Shengtai Pharmaceutical. "We now have a plant with the
design capability for large-scale production of high-quality
glucose as well as a solid platform from which we can grow a
sustainable business." About Shengtai Pharmaceutical, Inc. Shengtai
Pharmaceutical, Inc. through its wholly-owned subsidiary Shengtai
Holding, Inc. (SHI), a New Jersey corporation, and the Chinese
operating company of Weifang Shengtai Pharmaceutical Co., Ltd., is
a leading manufacturer and supplier of pharmaceutical grade glucose
used for medical purposes, and the glucose and cornstarch products
for the food and beverage industry and for industrial production in
China. For more information about Shengtai Pharmaceutical, Inc.,
please visit http://www.shengtaipharmaceutical.com/ .
Forward-looking Statements Certain statements made in this news
release, may contain forward-looking statements concerning the
Company's business and products. These statements include, without
limitation, statements regarding our ability to prepare the company
for growth, the Company's planned capacity expansion in 2008 and
predictions and guidance relating to the Company's future financial
performance. We have based these forward-looking statements largely
on our current expectations and projections about future events and
financial trends that we believe may affect our financial
condition, results of operations, business strategy and financial
needs but they involve risks and uncertainties that could cause
actual results to differ materially from those in the
forward-looking statements, which may include, but are not limited
to, such factors as unanticipated changes in product demand
especially in the pharmaceutical industry, pricing and demand
trends for the Company's products, changes to government
regulations, risk associated with operation of the Company's new
facilities, risk associated with large scale implementation of the
company's business plan, the ability to attract new customers,
ability to increase its product's applications, cost of raw
materials, downturns in the Chinese economy, and other information
detailed from time to time in the Company's filings and future
filings with the United States Securities and Exchange Commission.
Investors are urged to consider these factors carefully in
evaluating the forward-looking statements herein and are cautioned
not to place undue reliance on such forward-looking statements,
which are qualified in their entirety by this cautionary statement.
The forward-looking statements made herein speak only as of the
date of this press release and the Company undertakes no duty to
update any forward-looking statement to conform the statement 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:
Grayling Global Eddie Cheung / Dixon Chen Investor Relations Tel:
+1-646-284-9414 Email: DATASOURCE: Shengtai Pharmaceutical, Inc.
CONTACT: Ms. Yiru Melody Shi, Shengtai Pharmaceutical, Inc., CFO at
+1- 949-468-7078 or ; Or, at Grayling Global, Eddie Cheung and
Dixon Chen, Investor Relations at +1-646-284-9414 and for Shengtai
Pharmaceutical Web site: http://www.shengtaipharmaceutical.com/
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