Shengtai Pharmaceutical Expands International Sales Program
October 30 2008 - 8:30AM
PR Newswire (US)
- Dedicated Sales Team Focused on Key Global Markets - WEIFANG,
Shandong, China, Oct. 30 /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 restructured its international sales team
committed to broaden Shengtai's product sales into selected global
markets. The international sales team is an integral part of our
existing sales department as the Company sees growth potential in
the overseas markets. Currently, the Company has existing customers
in over 70 countries. The new team assumes responsibilities of all
aspects of the international sales include research, regulatory
affairs, marketing and sales to ensure the successful introduction
of the Company's health and other products into targeted
international markets. Shengtai's pharmaceutical grade glucose
products have wide application in hospitals, clinics and other
health-related services. Recently, the international sales team
attended the Guangzhou International Fair and presented Shengtai's
products. The response from potential customers at this conference
was encouraging. Shengtai recently received the "Good Manufacturing
Practice" (GMP) certificate for its new glucose manufacturing
facility. This new facility has an annual production capacity of
120,000 tons and when combined with the existing plant provides the
Company with a total annual capacity up to 180,000 tons of glucose.
The Company is commencing operations in stages and will gradually
ramp up production to expand its offerings. Mr. Qingtai Liu,
Chairman and CEO of Shengtai Pharmaceutical, stated, "Our
high-quality products combined with low-cost, state-of-the-art
manufacturing provides competitive advantages. We believe these
advantages and our new production capacity will allow us to
increase exports in targeted international markets." "The Chinese
market continues to represent a good growth opportunity for us as
the economy is growing at approximately 8% in 2008. Additionally,
the Chinese government is implementing policies to enhance economic
growth through revised banking regulations to aid smaller
businesses and effect reforms in rural areas to increase personal
wealth, " Mr. Liu concluded. 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/ . Safe Harbor Statement
Certain statements in this press release and oral statements made
by the Company constitute forward-looking statements. 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 Investor Relations Tel:
+1-646-284-9414 Email: DATASOURCE: Shengtai Pharmaceutical, Inc.
CONTACT: Shengtai Pharmaceutical, Inc. - Ms. Yiru Melody Shi, Chief
Financial Officer, +1-949-468-7078, or ; Grayling Global - Eddie
Cheung of Investor Relations, +1-646-284-9414, or Web Site:
http://www.shengtaipharmaceutical.com/
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