CHBT expands distribution network into Pan-Beijing area with 4 new distributors and 30 new points of sale:
SHANGHAI, Dec. 17, 2010 /PRNewswire-Asia-FirstCall/ -- China-Biotics, Inc. ("China-Biotics" or "the Company"), (Nasdaq:CHBT - News) the leading developer, manufacturer and distributor of probiotics products in China, today announced that it has expanded its distribution network into the Pan-Beijing area with the selection of four new distributors to sell the Company's retail products.
These local distributors will sell the Company's retail probiotics products through established distribution networks including malls, supermarkets and functional food stores adding approximately 30 new points of sale. These agreements represent the Company's first market entry into the pan-Beijing area.
Mr. Jinan Song, Chairman and CEO of China-Biotics, commented, "We are very excited about our new alliances with these distributors as they enable us to enter the highly desirable pan-Beijing area, which together with the Hebei and Shandong provinces and the municipalities of Beijing and Tianjin, command among the highest disposable income levels in China with rising nutritional food consumption. Although the signing of these distribution agreements signals the beginning of our expansion into this new geographic region, we have already started conducting studies on market potential for other regions within China."
"Rapidly growing sales of probiotics cultured yogurt products by dairy companies throughout China are paving the way for increased awareness of the benefit of probiotics. We are confident that our retail products will be well received by the health conscious middleclass consumers in this region. Our goal remains consistent: building a broader retail and bulk customer base with regular consumption and recurring revenues to maximize our long-term shareholder value," Mr. Song concluded.
