In the company’s news yesterday,
The company announced its subsidiary Qufu Natural Green Engineering Co. Ltd. has acquired Quefu Shengren Pharmaceutical Co. Ltd., a manufacturer and distributor of pharmaceutical products in China. Chairman Laiwang Zhang said the acquisition, valued at $3 million, will strengthen its partnership endeavors, and will ultimately benefit shareholders as Sunwin prepares to position itself as a global stevia producer.
“We are extremely pleased to have Qufu Shengren as a part of the Sunwin family. This acquisition is an important step forward for Sunwin as we build on our strategic partnership with WILD Flavors Inc. Management is committed to broadening our stevia production capabilities and Qufu Shengren will enable us to get there quickly in a cost effective manner,” Zhang stated.
“We expect that the acquisition of Qufu Shengren will be highly accretive to our shareholders in fiscal 2010 beginning in May of this year,” he added. “We also believe that this acquisition will solidify our position us as one of the world’s top producers of high grade stevia. We are very excited about our prospects for 2009 and beyond, as we see the demand and price for stevia is on the rise while the price of most of the world’s other commodities are on the decline.”
Sunwin manufactures and distributes Stevia under the trademarked brand name, OnlySweet. Extracted from the leaves of the stevia rebaudiana plant, stevia has gained widespread popularity as an alternative sweetener. Sunwin distributes OnlySweet to more than 3,500 grocery stores throughout the United States. It is also uses Stevia as an additive in various beverage, dairy and medical products in Japan, China, Malaysia, Israel, South Korea, Brazil and other countries.
Sunwin said that within the next three months, it plans to convert Qufu Shengren’s pharmaceutical production facilities to the production of high grade Stevia. Using the established facility will save Sunwin considerable money and time, allowing the company to boost Stevia production capacity to up to 250 tons each year.
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