TAI’AN, Shandong, China, July 30 /Xinhua-PRNewswire-FirstCall/ -- China RuiTai International Holdings Co., Ltd. (OTC Bulletin Board: CRUI) (“China RuiTai” or “the Company”), a leading producer and distributor of cellulose ether products in the People’s Republic of China (“PRC”), today announced it has completed a pilot test for biopolysaccharide, which is ready for mass production. The test was conducted jointly between China RuiTai and Shandong Academy of Science for Biological Medicine.
Biopolysaccharide is a water-soluble and viscous polysaccharide that can be made into film and fiber and applied as a functional additive in various products, such as medicine capsules, food, food wrapping films, and recyclable shopping bags. It is similar to glucosan and Xanthan gum and can be used for filing and gluing in the pharmaceutical and cosmetic industries and as a conditioner and thickener in food in order to improve food quality. It is edible, environmentally friendly, and has anti-oxidation properties.
“We are pleased to complete a pilot test for biopolysaccharide, which will diversify our revenues when production commences,” said Mr. Dianmin Ma, Chief Executive Officer and Chairman of China RuiTai. “The demand for biopolysaccharide in the pharmaceutical industry in China is estimated to be approximately 2,000 tons per year. We expect demand will grow further as people pay much more attention to safety issues associated with food and drugs in China.”
The Company’s new plant, which will be capable of producing 100 tons of biopolysaccharide per year, is currently under construction. Management expects to begin mass production in the fourth quarter of 2008 and estimates a selling price for biopolysaccharide of RMB 200,000 (USD $29,300) per ton.
About China RuiTai International Holdings Co., Ltd.
China RuiTai International Holdings Co., Ltd. (OTC BB: CRUI), through its operating subsidiary, is engaged in the production, sales, and exportation of deeply processed chemicals, with a primary focus on non-ionic cellulose ether products. Cellulose ether is an organic chemical that acts as a thickener and dissolves in water and other organic solvents. The Company is one of the largest non-ionic cellulose ether producers in China delivering products for the pharmaceutical, PVC manufacturing, construction industry, the personal care market and oil field exploration and recovery industries. China RuiTai exports to United States, Europe, India, the Middle East, and South East Asia.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management’s current expectations. Such factors include, but are not limited to the company’s ability to complete product orders, coordinate product design with its customers, ability to expand and grow its distribution channels, political and economic factors in the People’s Republic of China, the company’s ability to find attractive acquisition candidates, dependence on a limited number of larger customers and other factors detailed from time to time in the Company’s filings with the United States Securities and Exchange Commission and other regulatory authorities. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
