Shiner International Inc fka UECN

[Harleyman]

News for 'BEST' - (Shiner International Announces Acquisition of Water-Based Coatings Manufacturer)


HAIKOU, China, May 02, 2011 (PR Newswire Europe via COMTEX) -- Shiner
International, Inc. ("Shiner" or the "Company"), an emerging global supplier of
packaging solutions for food, tobacco, and consumer products, today announced
that it has acquired 100% of the stock of Shimmer Sun Ltd. ("Shimmer") for $3.2
million in cash. The acquisition gives Shiner a 65% controlling interest in
Shimmer's subsidiary company, Ningbo Neisuoer Latex Co., Ltd. ("Ningbo
Neisuoer"). Ningbo Neisuoer is a recognized leader in the field of specialty
water-based coatings, which are used to produce advanced coated films.

Based in Ningbo, the capital of Zhejiang Province, Ningbo Neisuoer was founded
in 2007 and employs approximately 35 staff. Its R&D team was issued the only
patent for polyvinylidene chloride, a coating polymer widely used in food
packaging, in China. Ningbo Neisuoer expects 2011 sales to be approximately 35
million RMB ($5.3 million USD) with a 35% gross margin.

Water-based coatings are more environmentally friendly than oil-based coatings
and offer superior moisture-barrier properties for packaging dry foods and other
moisture-sensitive products without compromising the efficiency of the packaging
production line.

"Ningbo Neisuoer has a solid reputation for producing advanced, high-quality
coatings. The synergies between the Company and Ningbo Neisuoer will bring real
benefits to our valued customers and demonstrate our continued commitment to
technological excellence," stated Qingtao Xing, President and CEO of Shiner.
"This acquisition will enable us to lower our raw material costs and further
expand our production capacity. Shiner is seeking vertical integration
opportunities that help us deliver new and innovative packaging products to
better serve our customers worldwide. This acquisition is an important step in
that regard."

About Shiner International, Inc.

Shiner International, Inc. is engaged in the research and development,
manufacture and sale of flexible packaging material and advanced film. Its
products include coated packaging film, shrink-wrap film, common packaging film,
anti-counterfeit laser holographic film and color-printed packaging materials.
The Company's products are used by manufacturers in the food and consumer
products industry to preserve the texture, flavor, hygiene, and convenience and
safety of their products. The Company was founded in 1990 and is headquartered
in Haikou, China.

Approximately 80% of Shiner's current customers are located in China, with the
remainder spanning Southeast Asia, Europe, the Middle East and North America.
Shiner holds 16 patents on products and production equipment, and has an
additional 10 patent applications pending. The Company's flexible packaging
meets U.S. FDA requirements, as well as the requirements for food packaging sold
in the EU. Shiner's product manufacturing process is certified under ISO
9001:2000. Additional information on Shiner is available at
http://www.shinerinc.com