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 entered into an agreement with a US based nutritional product company.
This new contract marks the major milestone in the China-Biotics' corporate history as it is the first contract win outside of China. The company's R&D representatives recently attended Natural Product Expo West in Anaheim, California, which attracted approximately 3400 exhibitors and a wide array of health food industry participants.
Mr. Jinan Song, CEO and Chairman of China-Biotics, commented, "we are very excited about winning our first overseas customer, in a market which not only carries the world's leading standard in food safety but also consumes large volume and varieties of health food. This is a solid testimony that our product quality and technology capability have been received by the international market. With this new win, we are now officially a new contender for the US market, which is historically dominated by European probiotics producers. We are confident that this is just the start of our future expansion 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.