HAINAN, China, March 13 /Xinhua-PRNewswire-FirstCall/ -- Shiner International, Inc. (Nasdaq: BEST) (website: http://www.shinerinc.com ), a market leader in China’s anti-counterfeit plastic films industry, announces that Shiner has signed a total of $5.4 million coated and packaging film supply contracts with various Chinese domestic buyers.
These new orders are represented by sales to one of the largest tobacco companies in China, a Shanghai based packaging materials company, as well as initial product sales of $2.7 million to one of the largest food companies in Fujian province. Shiner anticipates repeated orders from these domestic customers.
Shiner International currently owns 9 patents in China related to coated and BOPP tobacco films.
Mr. Jian Fu, CEO of Shiner International, commented, "Shiner’s patented coated film and packaging film technologies have led to strong customer interest towards our products. Our initial order with one of China’s largest tobacco companies is the beginning of multiple orders that we expect to receive from other major tobacco and liquor companies in China."
About Shiner International, Inc.
Shiner International is a NASDAQ listed US public company with 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. About 60% of Shiner’s current customers are located in China with the remainder located in Southeast Asia, Europe, the Middle East and North America. Shiner holds 13 patents on products and production equipment, and has additional patent applications currently pending. Shiner’s coated films meet the approval of US 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.
