China-Biotics, Inc. (Nasdaq: CHBT) ("China-Biotics" or "the Company"), the leading developer, manufacturer and distributor of probiotics products in China, announced that the Company has received a product sales order from its newly signed U.S. customer.
The U.S. based nutritional product company placed its first sales order, and formally entered into its agreement with China-Biotics on March 28, 2011. The agreement is effective for two years beginning on March 17, 2011, the day after the parties entered into an agreement in principle.
Mr. Jinan Song, CEO and Chairman of China-Biotics, commented, "We are excited to have received our first product sales order quickly after having established a business relationship with our U.S. customer. While continuing to increase our market share domestically, we also look forward to future growth opportunities in the international market."
China-Biotics, Inc. ("China-Biotics" or "the Company"), a leading manufacturer of biotechnology products and supplements, engages in the research, development, marketing and distribution of probiotics dietary supplements in China. Through its wholly owned subsidiaries, Shanghai Shining Biotechnology Co., Ltd. and Growing Bioengineering (Shanghai) Co. Ltd., the Company develops and produces a proprietary product portfolio. Currently, its retail products are sold over the counter, mainly through large distributors, to pharmacies and supermarkets in Beijing, Shanghai, and Jiangsu and Zhejiang provinces. The Company also sells bulk products to institutional customers such as dairy and animal feed producers as well as pharmaceutical companies. In February 2010, China-Biotics began its commercial production in China's largest probiotics production facility to meet the growing demand in China. For more information, please visit http://www.chn-biotics.com.