HAIKOU, China, Sept. 29 /Xinhua-PRNewswire/ -- Shiner International, Inc. (Nasdaq: BEST; website: http://www.shinerinc.com ), a market leader in China's packaging and anti-counterfeiting plastic films industry, today announced Shiner has finished development of a new coated film product and will launch it into the market in half a year, supplying clients from the global market. With the full popularization of the product, Shiner's new coated film in the domestic market is expected to reach 20 thousand tons per year, with an expected revenue of 70 million US dollars.
With a premium appearance, high barrier properties, and excellent tamper resistance, Shiner's new coated film has wide applications and is especially ideal for the packaging of food products. The innovative coated film product creates an opportunity for meaningful substitution to existing packaging materials, providing a cost reduction of 30% and eliminating one step of the production process for food manufacturers.
Shiner International CEO Mr. Jian Fu commented: "We are very glad that finally we finish the final development and trial production of the new coated film product. Initiation of new product further showcases Shiner's product innovation capability and nimble strain capacity towards the market demand. With increasing demand for convenience and attractive packaging, the market is ripe for coated films that deliver high quality experience and visual aesthetics. We are targeting to finish population of the product within six months to one year, which we are convinced will contribute to good sales in 2009."
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 13 patents on products and production equipment, and has additional patent applications pending. The Company's coated films meet 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.
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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.
