Chinese officials find that Synutra International's infant formula products compliant with all government safety standards, company says after 4-month-old twins fall ill--with one child dying -- following weeks of consumption of powdered milk formula
QINGDAO, China and ROCKVILLE, Maryland
January 13, 2012
– Synutra International, Inc. (NASDAQ: SYUT - News), ("Synutra" or the "Company"), which owns subsidiaries in China that produce, market and sell nutritional products for infants, children and adults, today announced that the People's Government of Duchang County in Jiangxi Province concluded after product testing that the Company's infant formula products are compliant with all government safety standards. The tests were performed due to the incident involving the Jiangxi twins that the Company announced yesterday. The government also found that the death of the male infant and the illness of his twin sister were both not due to food poisoning or related to food.
Mr. Liang Zhang, Chairman and CEO of Synutra, reacted to the government finding, "We are gratified to learn that government testing has confirmed our own test results earlier today to show that our products are safe. Given the turbulent history of China's dairy industry, we recognize our consumers are more focused than ever on product safety. We hope that the government's swift response and confirmation of the safety of our infant formula products will alleviate the concerns of our consumers and the general public. As the government testing results reinforce, Synutra is a company dedicated to producing safe and high quality products to better safeguard the health and nutrition of infants in China."
Please contact the Company at IR @Synutra.com with any further inquiries.
About Synutra International, Inc.
Synutra International, Inc. (Nasdaq: SYUT - News) is a leading infant formula company in China. It principally produces, markets and sells its products through its operating subsidiaries under the "Shengyuan" or "Synutra" name, together with other complementary brands. It focuses on selling premium infant formula products, which are supplemented by more affordable infant formulas targeting the mass market as well as other nutritional products and ingredients. It sells its products through an extensive nationwide sales and distribution network covering all provinces and provincial-level municipalities in mainland China. As of September 30, 2011, this network comprised over 670 independent distributors and over 900 independent sub-distributors who sell Synutra products in over 72,000 retail outlets.