Shiner International, Inc. excitedly announced today that it has entered into a new contract with Shineway Group, the largest meat product manufacturer in China. The company believes that this contact has the potential to contribute up to RMB4,000,000, (approximately $586,000) in monthly revenues to its coated food safe packaging sales.
“We are excited and invigorated by this new engagement with Shineway, the leading manufacturer of meat products in China. This is a strong ray of light in what has been a difficult past for Shiner, due in large part to the global economic recession. The passage of the new Food Safety Law that went into effect on June 1st has impacted many food processing companies in China, causing them to find suppliers of coated materials with barriers designed to keep bacteria out and freshness in the package. Our commitment to quality food-safe, coated film packaging, unparalleled technical advantages and production capacity, together with our pricing model, made us attractive to Shineway,” stated Qingtao Xing, President of Shiner.
Mr. Jian Fu, CEO of Shiner, commented, “Our business relation with Shineway is an important development in our market and customer expansion of coated, food-safe packaging film. We believe this is a significant development in our growth in the current economic climate, enabling us to take advantage of the new Food Safety Laws as we had expected. With the positive economic indicators in China and implementation of more stringent food safety laws, the Chinese demand for our state-of-the-art food safe packaging films should continuously increase. We are confident that Shiner will realize shareholders’ expectation of solid growth and realize the five-year growth objectives that we recently announced.”