China Biologic Products Begins Annual Maintenance of its Production Facilities
01 Aug 2008
PR Newswire Asia
TAIAN CITY, Shandong, China, Aug. 1 /Xinhua-PRNewswire-FirstCall/ -- China Biologic Products, Inc. (OTC 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: IR@chinabiologic.com Web: http://www.chinabiologic.com
Investor Relations Contact: Mr. Crocker Coulson President CCG Investor Relations Tel: +1-646-213-1915 (NY office) Email: crocker.coulson@ccgir.com Web: http://www.ccgir.com
In relation to the stock quote service (the "Quote Service") information, the stock price, trade volume and turnover are provided by The Stock Exchange of Hong Kong Limited ("SEHK") and/or HKEx Information Services Limited ("Exchange-supplied information"), whilst modifications to and adaptations of the foregoing are made by Quam (H.K.) Limited ("Quam-supplied information"). For the Exchange-supplied information, you may refer to SEHK's website at http://www.hkex.com.hk/ and for Quam-supplied information, you may refer to http://www.quamnet.com/. There may be a delay between the Quote Service information and the Exchange-supplied information or the Quam-supplied information.
SEHK and Quam (H.K.) Limited endeavour to ensure the accuracy and reliability of the Exchange-supplied information and the Quam-supplied information respectively but do not guarantee their accuracy or reliability and accept no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracies or omissions.
The above information is supplied by our data providers (SHK Financial Data, Xinhua Finance and Infocast among others) and is for reference purposes only. Neither the Group nor any of its data providers is liable or responsible for the accuracy and reliability of the above information. The Group is not responsible for any loss or damage which may be incurred as a result of any decisions made in reliance on the information contained herein or caused by informational errors or delays.
