Prominent probiotic manufacturer and developer China-Biotics, Inc. recently took the opportunity to update the financial community on its current business climate.
In September and October, China-Biotics added eight new bulk additive customers, raising its total number to 24. The newly signed customers are mainly engaged in manufacture of dairy, nutritional supplement, and animal feed products. Additionally, Phase I trial production recently began at its new state-of-the-art production facility in Qing Pu Industrial Park in Shanghai. Phase I has a production capacity of 150 metric tons of probiotics per year.
Excitedly, the company has strengthened its senior management team to support operations at the new facility. China-Biotics welcomes Mr. Bin Li, vice general manager of manufacturing, and Dr. Xiaoping Zhang, deputy director of R&D center. Mr. Li brings knowledge and expertise in dairy and yogurt production, having previously served as general manager of Yili Group Beijing Branch. Meanwhile, Dr. Zhang has substantial expertise in application of probiotics, having previously served as senior R&D manager in Mengniu Dairy (Beijing) Co., Ltd. Both Yili Group and Mengniu Dairy are among China’s top three dairy producers, creating a great resource within the China-Biotics team.
China-Biotics Chairman, Mr. Jinan Song, stated, “We are delighted to begin trial production at our new facility and start the second phase of our capacity expansion, which we expect to complete by the end of the year.”
Song continued, “We continue to experience significant demand for our probiotics products and our pipeline of potential new bulk additive customers remains strong. As a result, we expect to achieve revenue growth of at least 50% during the 2010 fiscal year.”