MIT China joint venture is preparing a major commercial launch in July 2010
12 2월 2010 - 7:15AM
PR Newswire (US)
DENVER, CO, Feb. 11 /PRNewswire-FirstCall/ -- Medical International
Technology Inc. (MDLH.OB) http://www.mitneedlefree.com/ MIT is
pleased to announce that its Chinese joint venture has made
significant progress in preparation for a successful commercial
launch as reported by Mr. Karim Menassa, President and CEO of
Medical International Technology Inc. after his recent business
trip to China. Chinese Partner Since its establishment in 1990,
Jiangyin Lanling Bottle Stoppers Co., Ltd. (one of the members of
Hualan Group) has grown to be the leading medical packaging
material manufacturer in China with an extensive product range,
unparalleled manufacturing scale, leading edge technologies and
national recognition as a highly-valued technology enterprise.
Lanling is also the leading butyl rubber stopper producer in the
Asia Pacific region. Mr. Hua Guoping, President and Chairman of
Hualan Group, is proud to be working with Medical International
Technology in what promises to be a very successful partnership.
China joint venture The creation of the joint venture named Jiangsu
Hualan MIT Medical Technology (MIT CHINA) Ltd., in June of 2009,
has given MIT a unique advantage to expand its production
operations and increase its sales and profits in the multi-billion
dollar worldwide needle-free injector market. The joint venture
also gives MIT the opportunity to achieve its goals for the short
and long-term future. Furthermore, MIT China venture will help
Medical International Technology Inc. supply large production
volumes in lesser time, which will attract large medical and
pharmaceutical partners. Mr. Menassa's meetings with suppliers in
China were successful and represent an important step towards
reducing production cost without compromising quality. The
introduction of our Agro-Jet needle-free injector for animal
application is going very well; our veterinary staff is doing an
excellent job training our Distributors in the different provinces.
These efforts will result in sales growth for the coming months and
years. Mr. Menassa's meeting with SFDA personnel was very positive.
The construction of a class 10,000 cleanroom lab, recommended by
the SFDA, was completed on January 29, 2010. Having received
certification for our production facilities earlier this week
brings us a step closer to our goal of beginning production of our
Med-Jet line of products and all the disposable accessories in
China for the Chinese market. Mr. Menassa, together with his
Chinese partners, also had successful meetings with two hospitals
in the city of Shanghai recommended by SFDA personnel for clinical
trials with Med-Jet models MIT-MBX and MIT-H-III. Our goal is to
complete our clinical trials in June of 2010 and start marketing
and selling in July 2010. Medical International Technology Inc.
objective is to ensure that its injectors become an indispensable,
environmentally friendly product for doctors, dentists,
veterinarians and home users around the world. Medical
International Technology Inc. is proud to continue providing a safe
and effective means to help prevent the spread of deadly diseases
to both humans and animals through the use of the Med-Jet(R) and
Agro-Jet(R) needle-free injection system. About Medical
International Technology, Inc. MIT CANADA, with offices in
Montreal, is a subsidiary of Denver, Colorado-based Medical
International Technology, Inc. (MIT USA), which specializes in the
development, production, marketing and sale of needle-free
injectors both for humans and animals, for individual and mass
vaccinations. The statements which are not historical facts
contained in this press release are forward-looking statements that
involve certain risks and uncertainties, including but not limited
to risks associated with the uncertainty of future financial
results, additional financing requirements, development and
acquisition of new product lines and services, government approval
processes, the impact of competitive products or pricing a
technological changes, the effect of economic conditions and other
uncertainties, and the risk factors set forth from time to time in
the Company's SEC reports, including but not limited to its annual
report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and
any reports on Form 8-K. Medical International Technology Inc.
takes no obligation to update or correct forward-looking
statements. DATASOURCE: MEDICAL INTERNATIONAL TECHNOLOGIES INC.
CONTACT: Karim Menassa, President and CEO, (514) 339-9355; Harold
Gervais, MBA, Vice-President and CFO, (514) 339-9355; Dr. Francis
Bellido, PhD, MBA, Vice-President and Chief Strategy Officer, (514)
339-9355; ; http://www.mitneedlefree.com/
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