Nutrition company to create state-of-the-art manufacturing facility
in Nanjing, Jiangsu province
LOS ANGELES -- (Business Wire)
Herbalife Ltd. (NYSE:HLF), a leading global nutrition company, today
announced plans to expand its manufacturing capabilities in China, as it
looks to increase its capacity in line with anticipated growth in this
strategically important market. This would add to Herbalife’s existing
manufacturing facilities in Suzhou, and its botanical extraction plant
in Changsha.
Herbalife has identified an existing, newly built facility in Jiangning
High-tech Industry Park (JHIP), Nanjing as the location for its newest
manufacturing facility, due to the unique environment it provides for
companies operating in the life science industries, as well as the
relative speed to operation in having only to renovate an existing
facility. JHIP brings together companies from across the entire industry
– research and development; incubation; small- and large-scale
manufacturing; and marketing – to create and foster innovation and
intellectual collaboration. Herbalife will invest up to $40MM USD in a
first phase of development, to bring the facility up to the highest
operating standards. This first phase is expected to be complete and the
facility operational by the end of 2015, with the potential for a second
phase of development, given the size and flexibility of the facility.
This new facility will ultimately provide up to 65% of the company's
total product requirements in China.
Richard Goudis, chief operating officer, Herbalife said, “We are
experiencing steady and sustainable growth in China and it is important
that our infrastructure is robust enough to meet the demand we are
seeing now, and expect to see in the future. We have been impressed with
the support from officials in Jiangning, and we are extremely encouraged
by the positive discussions we have had with senior provincial, state,
city and park officials, who are excited for us to increase our
investments and presence in the region.”
Herbalife received its first direct-selling license in China in March
2007 and now has licenses for the company to conduct its direct-selling
business in 25 provinces, municipalities or autonomous regions. The
Herbalife Innovation and Manufacturing facility in Suzhou was opened in
2009 and was the company's first owned manufacturing facility anywhere
in the world. The botanical extraction facility in Changsha, Hunan
province came into full operation in 2013.
About Herbalife Ltd.
Herbalife Ltd. (NYSE:HLF) is a global nutrition company that sells
weight-management, nutrition and personal care products intended to
support a healthy lifestyle. Herbalife products are sold in more than 90
countries to and through a network of independent members. The Company
supports the Herbalife Family Foundation and its Casa Herbalife program
to help bring good nutrition to children. Herbalife's website contains a
significant amount of financial and other information about the company
at http://ir.Herbalife.com.
The company encourages investors to visit its website from time to time,
as information is updated and new information is posted.
FORWARD-LOOKING STATEMENTS
Although we believe that the expectations reflected in any of our
forward-looking statements are reasonable, actual results could differ
materially from those projected or assumed in any of our forward-looking
statements. Our future financial condition and results of operations, as
well as any forward-looking statements, are subject to change and to
inherent risks and uncertainties, such as those disclosed or
incorporated by reference in our filings with the Securities and
Exchange Commission. Important factors that could cause our actual
results, performance and achievements, or industry results to differ
materially from estimates or projections contained in our
forward-looking statements include, among others, the following:
-
our relationship with, and our ability to influence the actions of,
our Members;
-
improper action by our employees or Members in violation of applicable
law;
-
adverse publicity associated with our products or network marketing
organization, including our ability to comfort the marketplace and
regulators regarding our compliance with applicable laws;
-
changing consumer preferences and demands;
-
our reliance upon, or the loss or departure of any member of, our
senior management team which could negatively impact our Member
relations and operating results;
-
the competitive nature of our business;
-
regulatory matters governing our products, including potential
governmental or regulatory actions concerning the safety or efficacy
of our products and network marketing program, including the direct
selling market in which we operate;
-
legal challenges to our network marketing program;
-
risks associated with operating internationally and the effect of
economic factors, including foreign exchange, inflation, disruptions
or conflicts with our third party importers, pricing and currency
devaluation risks, especially in countries such as Venezuela;
-
uncertainties relating to the application of transfer pricing, duties,
value added taxes, and other tax regulations, and changes thereto;
-
uncertainties relating to interpretation and enforcement of
legislation in China governing direct selling;
-
uncertainties relating to the interpretation, enforcement or amendment
of legislation in India governing direct selling;
-
our inability to obtain the necessary licenses to expand our direct
selling business in China;
-
adverse changes in the Chinese economy, Chinese legal system or
Chinese governmental policies;
-
our dependence on increased penetration of existing markets;
-
contractual limitations on our ability to expand our business;
-
our reliance on our information technology infrastructure and outside
manufacturers;
-
the sufficiency of trademarks and other intellectual property rights;
-
product concentration;
-
changes in tax laws, treaties or regulations, or their interpretation;
-
taxation relating to our Members;
-
product liability claims;
-
whether we will purchase any of our shares in the open markets or
otherwise; and
-
share price volatility related to, among other things, speculative
trading and certain traders shorting our common shares.
We do not undertake any obligation to update or release any revisions
to any forward-looking statement or to report any events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events, except as required by law.
Contacts:
Herbalife Ltd.
Julian Cacchioli
VP, Worldwide Corp.
Communications
213-745-0513
or
Amy Greene
SVP,
Investor, Government and Corporate Relations
213-745-0474
Source: Herbalife Ltd.
© 2024 Canjex Publishing Ltd. All rights reserved.