Bio-Bridge Science Subsidiary Acquires a Raw Bovine Serum Collection Center in Beian City, Heilongjiang Province, China
02 July 2009 - 12:31AM
Business Wire
On July 1, 2009, Huhhot Xinheng Baide Biotechnology Co. Ltd.,
(�Xinheng Baide�), a 51%-owned subsidiary of Bio-Bridge Science,
Inc., announced it had finished acquiring a raw bovine serum
collection center in Beian City, Heilongjiang Province, China by
purchasing serum production equipment at the facility. The purchase
price is RMB 280,000 (approximately $41,176). The purchase document
provides that Xinheng Baide can lease the manufacturing facility
without cost for ten (10) years from the date of signing the
purchase agreement as part of the terms of acquiring the equipment
from the owner. Beginning from the eleventh year, the annual rent
will be RMB 20,000 (approximately $2,941).
Xinheng Baide already owns a bovine serum collection facility in
Huhhot of Inner Mongolia, China. The purpose of acquiring a bovine
serum collection center in Beian City is to diversify the sources
of raw bovine serum and to lower raw material costs. As a result of
the diversification of raw serum sources, Xinheng Baide expects to
be more competitive in its pricing of bovine serum product.
�We are pleased to see the acquisition of a raw bovine serum
collection center by Xinheng Baide,� said Dr. Liang Qiao, Chairman
and CEO of Bio-Bridge Science. �The current main strategy of
Xinheng Baide is to increase sales while reducing the raw material
costs to reach maximum profits. We expect to see the results of
these efforts by Xinheng Baide in the years to come.�
This press release contains forward-looking statements.
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objectives, goals, strategies, future events or performance, and
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statements of historical facts. These statements are subject to
uncertainties and risks including, but not limited to, product and
service demand and acceptance, changes in technology, economic
conditions, the impact of competition and pricing, government
regulation, and other risks defined in this document and in
statements filed from time to time with the Securities and Exchange
Commission. All such forward-looking statements, whether written or
oral, and whether made by or on behalf of the company, are
expressly qualified by these cautionary statements and any other
cautionary statements which may accompany the forward-looking
statements. In addition, the company disclaims any obligation to
update any forward-looking statements to reflect events or
circumstances after the date hereof. Please refer to the Company's
SEC filings for additional information
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