Hiru Corporation (HIRU) Finalizes China Merger Animal Health Product Company

Jun 01, 2010, 09:58 ET from Hiru Corporation

NANCHANG, Jiangxi China, June 1 /PRNewswire-FirstCall/ - Hiru Corporation (HIRU; http://www.hirucorporation.com/) is pleased to announce the completion of a merger with Jiangxi Chuangdao Animal Health Products Co., a China-based animal health product company.

This announcement relates to the the press release on April 28 indicating that HIRU Corporation was divesting China based subsidiary Jiangxi RongYu Pharmaceutical Group, Inc.

Founded in 2000 in Nanchang, Jiangxi China Shuang Shi Animal Health Products Co., Ltd and Chuangdao Animal Health Products Co., Ltd (Jiangxi Animals Health Product Co Group) are amalgamated operations that specialize in research, development, and the production of animal health products. The specific focuses of the companies include feed additives, disinfectants, injections, powder/premix and six production lines of seven dosage forms. The company employs 268 people, including a team of highly qualified veterinary and pharmaceutical experts. In 2005, the company acquired a Good Manufacturing Practice (GMP) Certificate.

Animal Health Products Co. has ambitious long term plans. In addition to its current offerings, the company hopes to expand research and development and to introduce several new veterinary drugs to the Chinese market. Jiangxi Chuangdao Animals Health Product Co., Ltd. expects to realize an annual sales income of 227 million RMB (over $33 million USD), with average annual profits of 66.5548 million RMB (over $9.5 million USD).

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Safe Harbor Statement

Information in this news release may contain statements about future expectations, plans, prospects or performance of Hiru Corporation that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project" and similar words and phrases are intended to identify such forward-looking statements. Hiru Corporation cautions you that any forward-looking information provided by or on behalf of Hiru Corporation is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Hiru Corporation's actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Hiru Corporation's control. In addition to those discussed in Hiru Corporation's press releases, public filings, and statements by Hiru Corporation's management, including, but not limited to, Hiru Corporation's estimate of the sufficiency of its existing capital resources, Hiru Corporation's ability to raise additional capital to fund future operations, Hiru Corporation's ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match Hiru Corporation's capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Hiru Corporation does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.

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SOURCE Hiru Corporation