On the Street -- Sunwin Converts Chinese Facility for High-grade Stevia
September 24/Law & Health Weekly -- Sunwin International Neutraceuticals Inc. completed the conversion of Qufu Shengren's production facilities to produce high-grade stevia. The newly converted facilities add 250 metric tons of production capacity for high-grade stevia extract up to rebaudioside A 98, bringing Sunwin's total high-grade stevia annual production capacity to 500 metric tons.
Qufu Shengren, founded in December 2003, manufactured and distributed pharmaceutical products throughout China. In March 2007, Qufu Shengren received a certificate of good manufacturing practices (GMP) from State Food and Drug Administration in China for its pharmaceutical products. In April 2009, Sunwin International acquired 100% interest of Qufu Shengren and began the conversion of the facilities to produce high-grade stevia extracts. The completion of this conversion comes at a time when Sunwin is poised to enter its stevia extracts for use as a sweetener in the U.S. food and beverage industry with the completion of the process for U.S. Food and Drug Administration ("FDA") self-affirmed GRAS status for stevia extracts produced by Sunwin.
Commenting on the acquisition, Chairman Laiwang Zhang stated, "We are extremely pleased to have completed the Qufu Shengren conversion. This additional production is critical as we enter the U.S. markets and build on our strategic partnership with WILD Flavors Inc. Management has been committed to broadening our stevia production capabilities as we jointly develop numerous formulations and products using our stevia extracts that are healthy and great tasting. We have never been more excited about the future prospects for Sunwin and we intend to aggressively pursue the vast opportunities in front of us."
From the September 28, 2009, Prepared Foods E-dition
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