HARBIN, China, Aug. 27 /PRNewswire-Asia/ -- Shuaiyi International New Resources Development Inc.
(OTC Bulletin Board: SYID)("Shuaiyi" or the "Company"), a leading nutraceutical company focusing on the advanced technology related to the development of engineered "Cordyceps Militaris" in China, today announced that the Company has signed an OEM contract with Heilongjiang Runtong Bio-Pharmaceutical Co., Ltd. ("Runtong") to manufacture the Company's new product, Cordyceps-Cereal Beverage, effective August 25, 2009.
Runtong will manufacture the first batch of the Cordyceps-Cereal Beverage during the fourth quarter of 2009 to meet the needs of our pre-market promotion activities. Runtong is located in Runtong Biotechnology Park, Harbin City, Heilongjiang Province in China. It is one of the largest beverage manufacturers in Harbin and its beverage production facilities occupy 40,000 square meters inside the Runtong Biotechnology Park. Runtong currently produces four product lines, and each product line's full capacity is 25 tons/day. From 2004 to 2007, Runtong produced Runtong Pure Water, Runtong Fresh Orange Juice and a series of tea drinks. Due to business transformation efforts, however, Runtong now has available beverage manufacturing capacity. We are taking advantage of that excess production capacity by signing this OEM agreement. "The signing of the contract will further ensure the implementation of our Cordyceps-Cereal beverage project," said Ms. Lianyun Han, Chairperson and Chief Executive Officer of Shuaiyi.
About Shuaiyi
Shuaiyi is a leading nutraceutical company focusing on the advanced technology related to the development of engineered "Cordyceps Militaris" in China. The Company specializes in developing, processing, marketing and distributing a variety of agricultural and nutraceutical products consisting of dry Cordyceps Militaris, organic and specialty food products. The Company's primary product is dry engineered Cordyceps Militaris. The Company believes it is the largest manufacturer of engineered Cordyceps Militaris in China, ranked by volume, according to China Market Monitoring Center (CMMC), accounting for 19% market share in China. Cordyceps Militaris is a species of parasitic fungus that is typically found in north-eastern mountainous China. The products of Shuaiyi are sold throughout China via a distribution network that covers more than 10 provinces. More information may be found at http://www.syxny.net or e-mail: ir@syxny.net
Safe Harbor Statement
This news release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the Company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, the Company does not assume a duty to update any forward-looking statements to reflect events or circumstances after the date hereof.
For more information, please contact:
Shuaiyi International New Resources Development Inc.
Yudi Zhao, Board Secretary
Tel: +86-451-8228-7746
Email: ir@syxny.net
zhaoyudi@syxny.net
