AOBO Launches First U.S. Office to Bring the Company Closer to the U.S. Market and Investors - New York Office to Streamline Investor Communications, Initiate Western Marketing and Sales Operations, and Research FDA Approval Processes
HONG KONG, Sep 16, 2004 /PRNewswire-FirstCall via COMTEX/ -- American Oriental Bioengineering Inc., a rapidly growing Chinese producer and distributor of a broad range of pharmaceutical and nutraceutical products, today announced the opening of its first U.S. office. The office plays an important role in expanding AOBO's nutraceutical and pharmaceutical business in the U.S. by establishing strategic partnerships with U.S. companies, and strengthening AOBO's relationship with Wall Street.
AOBO's Board of Directors established the New York office on July 26. Lily Li, the Managing Director and Chief Operations Officer of the Company, has relocated to New York to lead AOBO's new Western operations. After examining the U.S. and European markets, the Board determined that the size of the U.S. market coupled with growing U.S. demand for nutraceutical, pharmaceutical and soy products made it a natural arena for expansion.
Tony Liu, Chairman and CEO of AOBO commented, "Based on Lily's strong leadership abilities in AOBO's China operations, she has been selected to launch AOBO's presence in the U.S. Lily has the full confidence of the Board that she will accelerate AOBO's growth plans and send a clear message to Western investors that we are committed to long-term opportunities in the U.S."
The functions of the office include:
* Handling the international affairs of AOBO;
* Conducting market research in the States to fine-tune AOBO's sales and
marketing strategies to achieve maximum market penetration in the U.S.
and Europe;
* Building strategic partnerships with U.S. pharmaceutical and
nutraceutical companies;
* Increasing investor awareness by improving the flow of information to
AOBO's current and potential shareholders;
* Promoting the AOBO brand;
* Spearheading AOBO's public relations effort;
* Researching steps required for FDA approval of AOBO pharmaceutical
products.
"Our products have global appeal -- still, the U.S. is the world's largest potential market for AOBO's pharmaceutical and nutraceutical products, so expanding into this market and beyond is the natural growth path AOBO is taking," said Mr. Liu.
"Paving the way to launch one of China's top ten most recognizable brands in the U.S. is a challenge I am very prepared to accept," said Lily Li. "By focusing on the marketing, financial and sales functions, the New York office will play an integral role in AOBO's long-term success."
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