Shengtai Pharmaceutical, Inc Announces Appointment of New Chief Financial Officer
March 04 2010 - 6:00AM
PR Newswire (US)
WEIFANG, Shandong, China, March 4 /PRNewswire-Asia-FirstCall/ --
Shengtai Pharmaceutical, Inc. (BULLETIN BOARD: SGTI) ("Shengtai" or
"the Company"), a leading manufacturer and distributor of
high-quality, pharmaceutical grade glucose products in China, today
announced in China that it has appointed Mr. Hu Ye as its new Chief
Financial Officer. Mr. Hu Ye received his degree of Master of Arts
in Economics from University of Toronto, Canada, and his Bachelor's
degree of Science in Electrical Engineering from Huazhong
University of Science and Technology, China. Mr. Ye has been a
Certified General Accountant (CGA) in Canada since 1998 and has
over 20-year experience in financing and international capital
markets. Mr. Ye was the CFO of China Shen Zhou Mining &
Resources, Inc. from June 2008 to March 2009 and the CFO of Si Mei
Te Food Ltd. from May 2009 to September 2009. He worked in China as
the CFO of Odysys International Ltd. from December 2003 to March
2006, CFO of BOCO Enterprises Ltd. from March 2006 to March 2007
and from December 2007 to May 2008, and CFO of EMarket Holding
Group Corp. from March 2007 to November 2007. From January 2002 to
September 2003 Mr. Ye was a consultant at Securitization Finance,
CIT Group, Inc. in Canada. From June 1999 to March 2001 Mr. Ye was
an Assistant Vice-President in Finance, Corporate and Institutional
Client Group of Merrill Lynch Canada. From January 1990 to June
1999, Mr. Ye worked as a financial analyst of Finance and Tax, and
a Financial Control Administrator at Mackenzie Financial
Corporation in Canada. Mr. Ye has been serving as Non-Executive
Board Member of Beijing Heidrick & Struggles International
Management Consulting Co. Ltd. since July 2006; Non- Executive
Board Member of CIC Mining Resources Ltd. since February 2009.
Shengtai Pharmaceutical Inc. welcomes Mr. Hu Ye to join the company
as CFO, and believes that Mr. Ye's financial background and
experience will be a real asset to help move the company forward.
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. It also manufactures and supplies glucose and
cornstarch products to the food, beverage and industrial production
industries 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, 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. Mr. Hu
Ye Chief Financial Officer Tel: +86-536-6295059 Email:
shengtaicfo@hotmail.com Shengtai Pharmaceutical, Inc. Ms. Shenglian
Iris Wang Investor Relations Manager Tel: +86-536-6295802 Email:
shengtaiadm@hotmail.com DATASOURCE: Shengtai Pharmaceutical, Inc.
CONTACT: Hu Ye, Chief Financial Officer,
+86-536-6295059,shengtaicfo@hotmail.com, or Shenglian Iris Wang,
Investor Relations Manager,+86-536-6295802,
shengtaiadm@hotmail.com, both of Shengtai Pharmaceutical,Inc. Web
site: http://www.shengtaipharmaceutical.com/
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