(MENAFN- Newsfile Corp) Tonisity Obtains Import Registration from Government of China for Tonisity Px
Dublin, Ireland--(Newsfile Corp. - August 5, 2022) - Tonisity International Limited (' Tonisity '), an animal health and nutrition company based in Ireland, is pleased to announce that the General Administration of Customs in the People's Republic of China has approved the importation of Tonisity Px, which is Tonisity's flagship swine product.
The Ministry of Agriculture and Rural Affairs in China approved the registration of Tonisity Px in 2021, which enabled Tonisity to legally sell in the Chinese market. Having now obtained approval to import Px into China, Tonisity is now positioned to immediately accelerate sales of Tonisity Px into the largest swine market in the world.
About Tonisity Px
Tonisity Px is a patented isotonic protein drink that directly nourishes the intestinal cells of the small intestines of certain animals, including piglets, which accelerates and increases the absorption of all nutrients into the body of the animal. The result is higher weight gain, lower mortality and less need for medications for these animals - all producing a high return on investment for producers. Tonisity Px is patented in many countries in the world and is currently being sold in Europe, Asia, North America, South America and Australia. Currently, Tonisity Px is manufactured in Ireland.
Joint Venture in China
In July 2020, Tonisity entered into a joint venture agreement, as the controlling partner, with a Chinese minority partner in order to market Tonisity's swine and companion products in China and Taiwan, including Hong Kong. Tonisity contributed technology and intellectual property to the joint venture, while the joint venture partner contributed funding, senior local management and a sales, marketing and logistics team. China is the largest consumer of pork worldwide, accounting for over 54 million tonnes of consumption of the global 112 million tonnes of pig consumption. Tonisity companion animal products were launched in Hong Kong in January 2021, while Tonisity Px was simultaneously being soft-launched with select swine producers in China.
OEM Production in China
Tonisity and its joint venture partner have engaged an original equipment manufacturer in China to process Tonisity's products locally for the Chinese market. With the registration of Px, Tonisity expects to begin processing Px in China in the coming weeks, and is preparing to produce all of its other swine and companion products in China in the near future.
Arie Halpern, CEO of Tonisity, comments: 'Having received approval to import our Px product from the government of the largest swine market in the world, Tonisity is poised to accelerate sales in this sector. Px is a proven technology that improves the health and well-being of pigs, while generating significantly more revenue for producers. We are pleased to have achieved this important milestone and will work diligently to ramp up sales in China, while working to obtain regulatory permits for the rest of our products. Tonisity is poised to become a leading global animal health company.'
In anticipation of this milestone, Tonisity's Chinese partners have obtained pre-orders from customers in China and have built significant inventory to meet anticipated demand. Further updates will be provided in the near future.
For More Information on Tonisity
Tonisity is an animal health and nutrition company based in Ireland that is currently focusing its patented technology in two specific markets: (1) isotonic products for the enhancement of swine production; and (2) novel companion animal nutrition products. Tonisity is focused on creating positive physiological changes by addressing the issue of intestinal health of young animals, thus improving their overall health, leading to better lifetime performance. With respect to novel companion animal products, Tonisity is poised to become the first mover and market leader in a targeted nutrition approach for pets - which is a rapidly growing market across the globe. For more information on Tonisity's isotonic business, visit . For more information on Tonisity's companion animal business, visit .
ON BEHALF OF THE BOARD
CEO and Chairman
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect Tonisity's current expectations. When used in this press release, the words 'estimate', 'project', 'belief', 'anticipate', 'intend', 'expect', 'plan', 'predict', 'may' or 'should' and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information.
The forward-looking statements and information in this press release include information relating to the business plans of Tonisity, including expansion in China and Taiwan, the processing of products in China and the development of new product lines in both the swine and companion animal product lines.
Such statements and information reflect the current views of Tonisity. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: Tonisity's ability to raise capital to maintain its growth and business objectives, Tonisity's ability to negotiate and enter into binding agreements with counterparties in geographic markets that are part of its expansion plans, Tonisity's ability to operate in the Chinese market, changes in laws and regulations that could adversely affect Tonisity's business, growth or results of operations, Tonisity's ability to attract and retain customers and consumers and impacts of the COVID-19 pandemic.
There are a number of important factors that could cause Tonisity's actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: limited business history of Tonisity; risks related to Tonisity's corporate strategy including that previous and future acquisitions do not meet expectations; disruptions or changes in the credit or security markets; results of operation activities; unanticipated costs and expenses, fluctuations in commodity prices, and general market and industry conditions; protection of Tonisity's intellectual property; disruption at any of Tonisity's facilities including as a result of the current COVID-19 pandemic; effect of public health crises, including the current COVID-19 pandemic; Tonisity's supply chain management; availability of suppliers of raw materials; limited or disrupted supply of key ingredients; the availability of key ingredients for Tonisity's products; failure to expand production capacity; effect of product innovation; failure to retain current customers and/or recruit new customers potential volatility of share price; no assurance of active market for shares; dividends; global financial conditions; the effect of product labelling requirements; price of raw materials; consumer trends; publication of inaccurate or unfavourable research and reports; management and conflicts of interest.
Tonisity cautions that the foregoing list of material factors is not exhaustive. When relying on Tonisity's forward-looking statements and information to make decisions, readers should carefully consider the foregoing factors and other uncertainties and potential events. Tonisity has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
The forward-looking information contained in this press release represents the expectations of Tonisity as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While Tonisity may elect to, it does not undertake to update this information at any particular time, except as required by applicable laws.
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