26th Apr 2010 07:00
Press Release |
26 April 2010 |
Sorbic International plc
("Sorbic" or the "Company")
Construction of New Facility Begins in Inner Mongolia, China
Sorbic International plc (AIM:SORB), the third largest sorbates producer in China, is pleased to announce that construction has now commenced on the Company's new production lines in Ulanqab city, Inner Mongolia. The groundbreaking ceremony took place yesterday, Sunday 25 April, and marks the start of construction on the site.
The new facility will increase the Company's capacity from 7,500 to 15,000 tonnes per annum, with the addition of these two new lines. Construction is expected to be completed by autumn 2010.
John McLean, Chairman of Sorbic International, commented: "The Board is delighted to have reached this important step in the Company's development. The new facility will significantly increase the Company's capacity, and will enable us to substantially scale up the business. We are extremely optimistic about the next stage of Sorbic's development, and working through the construction of the facility. We look forward to updating shareholders on our progress in due course."
- Ends -
For further information: |
|
Sorbic International plc |
Tel: +44 (0)7768 031 454 |
John McLean, Chairman |
www.sorbicinternational.com |
FinnCap |
|
Geoff Nash / Ed Frisby / Simon Starr (broking) |
Tel: +44 (0) 20 7600 1658 |
Media enquiries:
Abchurch Communications |
|
Joanne Shears / Mark Dixon |
Tel: +44 (0)20 7398 7709 |
www.abchurch-group.com |
Notes to Editors:
About Sorbic International plc
Sorbic International's principal activity is the production and sale of the food preservatives Sorbic Acid and Potassium Sorbate from its base in Linyi City, Shandong Province, Peoples Republic of China. Approximately half of Sorbic International's production is sold to overseas markets, across 46 countries and half into the Chinese domestic market.
Sorbic Acid is a naturally occurring organic compound that is used in all kinds of foods for its anti-decomposition and anti-fungus function and also in grains, medicines, cosmetics, toothpaste, tobacco, animal feed, latex, paper-manufacturing and pesticides. Potassium Sorbate is used to inhibit moulds and yeasts in many foods, such as cheese, wine, yogurt, dried meat, baked goods, cosmetics and pharmaceuticals.
About Chahar Industrial Park
Chahar Industrial Park is located in Ulanqab City, Inner Mongolia, in the north of the Peoples Republic of China ("PRC") and is the traffic hub that links North China with its neighbour, Mongolia and the main land route for international trade from China to Mongolia, Russia and Europe. Ulanqab City has a total land area of 54.5 thousand square kilometres and a population of 2.73 million people and is a one hour to drive from Hohhot Baita Airport, which lies 130 kilometers east of Hohhot. Beijing is 300 kilometers (3 hour drive) to the south and Tianjin port is 400 kilometers away.
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