XIAN, China, July 29, 2021 /PRNewswire/ -- Bon Natural Life Limited (Nasdaq: BON) ("BON" or the "Company"), a leading bio-ingredient solutions provider in the natural, health and personal care industries, officially broke ground today on its third production facility in Yumen City's Material Chemical Industrial Park (the "Yumen Plant"), marking a key milestone to pursue its growth strategies.
Project partners and local officials took part in the ceremony, celebrating the official start of the project. As previously announced, the Yumen Plant is expected to increase BON's production capacity of fragrance compounds and bioactive food ingredients by 200%, representing an 150% annualized growth potential in revenue upon completion. The construction is underway and Yumen Plant is scheduled to be up and running around June to September 2022. BON's third plant will house 6 state of art production lines with 3 lines dedicated to fragrance compounds and the other 3 lines for bioactive food ingredients, leveraging BON's proprietary biomanufacturing technology platform.
"We're thrilled to see this vision begin to take shape in Yumen city and bring our capacity next phase expansion strategy close to life. As one of the leading players in the industry, BON will continue executing its capacity expansion plan to strengthen our sales force and dedicate new resources in international markets, including the U.S., Europe and other regions and territories. In parallel to its proven capacity expansion fueled growth strategy, BON will leverage its science and expertise in natural and healthy ingredients to develop new proprietary products with its retail partners." Said Richard (Yongwei) Hu, the Chairman and CEO of Bon Natural Life Limited. "The construction of Yumen Plant is a major step forward for the Company. It allows us to satisfy the increasing demand in the marketplace, significantly boosting our revenue and earnings potential, and operating in a more cost-efficiency fashion with state of art equipment. Last but not least, the Yumen Plant will be an environmentally responsible facility to bring positive social impacts in terms of emission and pollution reduction. We believe that the completion of Yumen Plant will help BON accelerate its global business expansion and create lasting long-term value for our investors."
About Bon Natural Life Limited
The Company focuses on the manufacturing of personal care ingredients, such as plant extracted fragrance compounds for perfume and fragrance manufacturers, natural health supplements such as powder drinks and bioactive food ingredient products mostly used as food additives and nutritional supplements by their customers. For additional information, please visit the Company's website at www.bnlus.com.
Safe Harbor Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. 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. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the natural, health and personal care market in China and the other international markets the Company plans to serve; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof.
For more information, please contact:
In the United States: In China:
Maggie Zhang | Impact IR Sophie Zhang | Impact IR
Phone: (646) 893-8916 Email: sophie.zhang@irimpact.com
Email: maggie.zhang@irimpact.com
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