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Biotech / Medical : AOB - American Oriental Bioengineering Inc. -- Ignore unavailable to you. Want to Upgrade?

To: OmertaSoldier who wrote (19)	10/12/2005 1:01:37 PM
From: OmertaSoldier	Respond to of 47

American Oriental Bioengineering, Inc. , Known for Soybean Protein Peptide, Implements Market-Driven Efficiencies at Formerly State-Owned HSPL AOBO Vice President and Director Min Jun Supervises Day-to-Day HSPL Operations NEW YORK, Nov 4, 2004 (BUSINESS WIRE) -- American Oriental Bioengineering Inc. (AOBO), a rapidly growing Chinese company which produces and distributes a broad range of pharmaceutical and nutriceutical products, today announced the successful integration of formerly state-owned Heilongjiang Songhuajiang Pharmaceutical (HSPL) into AOBO's market-driven operations and culture. AOBO appointed Min Jun, vice president and director of AOBO, as general manager of HSPL to oversee production, finance, technology, and sales and marketing of the acquired enterprise. AOBO acquired 100 percent equity ownership of HSPL including all manufacturing assets, facilities, equipment, land and land use rights, raw materials, inventories, intellectual properties and technical talents on September 9, 2004. For more than 50 years HSPL has played an important role in the Chinese pharmaceutical industry. Its focus on R&D resulted in proprietary products such as Shuanghuanglian Lyophilized Powder Injection. The product is an important antiviral medicine and one of the most highly regarded herbal products certified by the Chinese Government for the treatment of SARS. AOBO conducted a thorough review of HSPL's production facilities including personnel, equipment, and sales and marketing channels to develop and implement a plan to enhance the efficiency, overall productivity and profitability of the company. As a result, AOBO has: -- Repaired all machinery and equipment to ensure smooth operation of production facilities; -- Eliminated unnecessary expenditures to contain costs of operation; -- Updated the employment model to eliminate the outdated life-long employment agreements in preference of more flexible, market-driven employment; -- Provided intensive training in accordance with GMP manufacturing standard to the 231 retained staff members to update and develop the skills, knowledge and corporate culture required to effectively compete as a privatized entity; -- Implemented sales, marketing and promotions structures that highlight unique product attributes and stress competitive advantage in the marketplace. "AOBO is already seeing the positive results of HSPL's newly streamlined operations," said Tony Liu, Chief Executive Officer of AOBO. "The first batch of products rolled off the improved production line in mid-October and have been extremely well received. And, we anticipate that ongoing effective management of HSPL combined with a focus on R&D will increase the depth and breadth of product offering to strengthen AOBO's position even further." Liu continued, "The acquisition of HSPL strengthens AOBO's position in the industry and moves us closer to our goal of being a top five pharmaceutical company in China. Its R&D capabilities and existing products, facilities and staff should help raise our 2005 net profits by about 50 percent." About American Oriental Bioengineering, Inc.

To: OmertaSoldier who wrote (19)	10/12/2005 1:03:07 PM
From: OmertaSoldier	Respond to of 47

American Oriental Bioengineering, Inc. Appoints Mr. Xianmin Wang as Independent Director The Former Vice-Governor of Heilongjiang Province Accepts the Position of Independent Director NEW YORK, Jan 19, 2005 (BUSINESS WIRE) -- America Oriental Bioengineering Inc., (AOBO), a rapidly growing Chinese company which produces and distributes a broad range of pharmaceutical and nutriceutical products, today announced the appointment of Mr. Xianmin Wang as an independent director of the Company. Mr. Wang brings more than 37 years of experience in political, economic and cultural affairs. His previous experience includes key government positions in Daqing, vice governor of Heilongjiang province in charge of Financial and Economic affairs from 1998 to 2001, and professor of economics at the Northeast Forestry University. Tony Liu, Chief Executive Officer of AOBO, said: "Mr. Wang brings valuable knowledge to AOBO in economic and government affairs. In particular, he is a thought leader on the subject of privatization of Chinese state-owned enterprises. AOBO will greatly benefit from his political experience, knowledge and relationships. As a professor of economics, Mr. Wang researched the subject of economic reform in China. Mr. Wang will assist AOBO's rapid expansion which includes opportunities arising from China's privatization process. Mr. Wang has been in charge of economic affairs in Heilongjiang province and Daqing. His understanding and direct experience in economics, stock market regulations and the privatization process will provide important guidance and counsel as AOBO formulates its strategy for its second decade of operation." Mr. Wang commented: "Accepting the position as an AOBO director is exciting. It is crucial to take advantage of China's rapid growth, government policies and resources and coordinate this with the opportunities of the American capital markets, new technologies and market demand for companies like AOBO. I'm pleased to have the opportunity to apply my experience and knowledge in helping AOBO and its shareholders to take advantage of opportunities arising from China's economic development." About American Oriental Bioengineering, Inc.