HAIKOU, China, Oct. 19 /PRNewswire-Asia/ -- Shiner International, Inc.
(Nasdaq: BEST) (website: http://www.shinerinc.com ), a market leader in the
food safe packaging and anti-counterfeiting packaging industries, today
announced that it has entered into a new contract with Shineway Group, the
largest meat product manufacturer in China. Shiner believes that this contact
has the potential of contributing up to RMB4,000,000, (approximately $586,000)
monthly 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," said 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."
About Shiner International, Inc.
NASDAQ listed Shiner International (http://www.shinerinc.com ) is a U.S.
corporation that has its primary operations in China. Headquartered in the
city of Haikou - China's "Hawaii" - Shiner's products include coated packaging
film, shrink-wrap film, common packaging film, anti-counterfeit laser
holographic film and color-printed packaging materials. Approximately 60
percent of Shiner's current customers are located in China, with the remainder
spanning Southeast Asia, Europe, the Middle East and North America. Shiner
holds 14 patents on products and production equipment, and has an additional
eight patent applications pending. The Company's coated films meat the
approval of U.S. FDA requirements, as well as those required for food
packaging sold in the EU. Shiner's product manufacturing process is certified
under ISO 9001:2000.
Safe Harbor Statement
All statements in this press release that are not historical are
forward-looking statements made pursuant to the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995. You are cautioned not to
place undue reliance on any forward-looking statements in this press release
as they reflect Shiner International, Inc.'s current expectations with respect
to future events and are subject to risks and uncertainties that may cause
actual results to differ materially from those contemplated. Potential risks
and uncertainties include, but are not limited to, the risks described in
Shiner's filings with the Securities and Exchange Commission.
For more information, please contact:
Corporate Contact:
Mr. Qingtao Xing
President
Shiner International, Inc.
Tel: +86-1387-6683-099
Email: qingtao.xing@shinerinc.com or info@shinerinc.com
Ms. Feng Zou
Corporate Secretary
Shiner International, Inc.
Tel: +86-1500-8081-666
Email: feng.zou@shinerinc.com
SOURCE Shiner International, Inc.