QINGYUAN, Guangdong, China, July 17 /Xinhua-PRNewswire-FirstCall/ -- China Bottles Inc. (OTC Bulletin Board: CBTT; "China Bottles" or "the Company"), a leading plastic packaging solutions and plastic bottle production equipment company in the People’s Republic of China ("PRC") today announced that its June contracts amounted to approximately $3.3 million from both domestic and overseas clients. This figure represents a three fold increase over the aggregate value of contracts signed in June 2007. Due to variations in the terms of different contracts, this revenue will be received at different times from different parties throughout the next several months.
Of the Company’s new contract wins, 56% were signed with overseas clients and were comprised primarily of mold and bottle blowing machine orders from Australia, Cambodia, Sri Lanka, Kyrgyzstan, Senegal and Algeria. Aside from Australia, all of these countries represent new markets for China Bottles. The remaining contracts were from domestic clients and were dominated by orders for polypropylene bottle blowing machines and molds for the production of pharmaceutical packaging.
"We are pleased to see our successful entry into the pharmaceutical packaging application market as well as the expanding geographic reach of our sales and marketing network," commented Mr. Chonghui Zhao, CEO of China Bottles Inc. "We believe that recent increases in business are a credit to our efficient manufacturing practices and superior quality products. As we are now operating at full capacity, we are currently planning expansions to our facilities to allow for further growth."
About China Bottles Inc.
China Bottles Inc. ("the Company") has been a leading manufacturer of polyethylene terephthalate (PET) and polypropylene (PP) blow molding packaging equipment and molds in China for fifteen years. The Company has an additional established expertise in the production of beverage bottles and pharmaceutical packaging. China Bottles produces, markets and sells a full range of packaging production equipment including high speed injection molding machines for blow molding of PET/PP bottles and molds which shape and form the bottles. The Company also produces bottles that are primarily made of PET/PP which is a plastic resin that is a recyclable, durable plastic with strong resistance to heat, moisture and diluted acid. The Company is headquartered in Qingyuan, Guangdong province in PRC China, and operates through China Bottles’ affiliate Company, Guozhu Group Co., Ltd. exporting its products internationally to more than twenty countries
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the company’s ability to obtain the necessary financing to continue and expand operations, to market its products in new markets and to offer products at competitive pricing, to attract and retain management, and to integrate and maintain technical information and management information systems; compliance with laws and regulations of the PRC, the effects of currency policies and fluctuations, general economic conditions and other factors detailed from time to time in the company’s filings with the United States Securities and Exchange Commission and other regulatory authorities. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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