Synutra Announces Participation Sino-French Trade and Investment Forum
- CEO Zhang in Chinese Business Delegation Accompanying President Xi's State
QINGDAO, China and ROCKVILLE, Md., April 8, 2014
QINGDAO, China and ROCKVILLE, Md., April 8, 2014 /PRNewswire/ -- Synutra
International, Inc. (NASDAQ: SYUT), ("Synutra" or the "Company"), which owns
subsidiaries in China that produce, distribute, and sell nutritional products
for infants, children, and adults, announced that Synutra Chairman and CEO
Liang Zhang, as a member of a delegation comprised of China's business
executives and entrepreneurs, recently accompanied the state visit of Chinese
President Xi Jinping to France, and participated in the Sino-French Trade and
Investment Forum held on March 27, 2014, which was the concluding event of
President Xi's three-day visit.
Throughout the visit, Synutra was featured in multiple local media articles
due to its cooperation with its French partner Sodiaal in developing a drying
facility in Carhaix, France, and cited as an example of strengthened business
collaboration and economic ties between China and France. This drying facility
is the largest foreign-invested project in the infant formula powder sector in
France. As Synutra has previously announced, this drying facility commenced
construction at the beginning of 2014 and once complete, is intended to
manufacture powdered milk and fat-enriched demineralized whey. Synutra signed
its agreement with Sodiaal at the Sino-French Trade and Investment Forum in
Beijing in 2013, under the witness of state leaders and business officials
from both countries.
Mr. Liang Zhang, Chairman and CEO of Synutra said, "We are pleased to be part
of the trade delegation that can help foster greater economic ties between
both China and France.Our new facility in France is an important project for
Synutra and, once complete, will significantly reduce our vertically
integrated production costs, adopt world class manufacturing techniques and
ensure the highest quality and nutritional value for our products."
About Synutra International, Inc.
Synutra International, Inc. (Nasdaq: SYUT) is a leading infant formula company
in China. It principally produces, markets, and sells its products through its
operating subsidiaries under the "Shengyuan" or "Synutra" name, together with
other complementary brands. It focuses on selling premium infant formula
products, which are supplemented by more affordable infant formulas targeting
the mass market as well as other nutritional products and ingredients. It
sells its products through an extensive nationwide sales and distribution
network covering all provinces and provincial-level municipalities in mainland
China. As of December 31, 2013, this network comprised over 670 independent
distributors and over 620 independent sub-distributors who sell Synutra
products in approximately 28,000 retail outlets.
This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995 that are based on our
current expectations, assumptions, estimates and projections about Synutra
International, Inc. and its industry. All statements other than statements of
historical fact in this release are forward-looking statements. In some cases,
these forward-looking statements can be identified by words or phrases such as
"anticipate," "believe," "continue," "estimate," "expect," "intend," "is/are
likely to," "may," "plan," "should," "will," "aim," "potential," "continue,"
or other similar expressions. The forward-looking statements included in this
press release relate to, among others, Synutra's goals and strategies; its
future business development, financial condition and results of operations,
particularly the progress on the new drying facility project in France; the
expected growth of the nutritional products and infant formula markets in
China; market acceptance of Synutra's products; the safety and quality of
Synutra's products; Synutra's expectations regarding demand for its products;
Synutra's ability to stay abreast of market trends and technological advances;
competition in the infant formula industry in China; PRC governmental policies
and regulations relating to the nutritional products and infant formula
industries, and general economic and business conditions in China. These
forward-looking statements involve various risks and uncertainties. Although
Synutra believes that the expectations expressed in these forward-looking
statements are reasonable, these expectations may turn out to be incorrect.
Synutra's actual results could be materially different from the expectations.
Important risks and factors that could cause actual results to be materially
different from expectations are generally set forth in Synutra's filings with
the Securities and Exchange Commission. The forward-looking statements are
made as of the date of this press release. Synutra International, Inc.
undertakes no obligation to update any forward-looking statements to reflect
events or circumstances after the date on which the statements are made or to
reflect the occurrence of unanticipated events.
FOR FURTHER INFORMATION:
Synutra International, Inc.
Investor Relations Department
firstname.lastname@example.org or 646-328-2552
SOURCE Synutra International, Inc.
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