Trading Symbol: MCV
TORONTO, Aug. 13 /CNW/ - McVicar Resources Inc. ("McVicar") is pleased to
announce that its Chinese subsidiary, Zhejiang Hongbo Chemical Co. Ltd.
("Hongbo") has received a new order from Zhejiang Huayi Pharmaceutical Co.
Ltd. to supply one of its main intermediate chemicals for drugs. The order
calls for 35 tonnes of the chemical at a price of over 200,000 Yuan per tonne
for a total of ~7.2 million Yuan (~CND $1.05 million). Hongbo is required to
deliver the full amount of the product in 3 months.
"We are very pleased with the new order from another Chinese
pharmaceutical company", said Dr. Gang Chai, President & CEO of McVicar, "with
the increased expansion of the domestic medical market, McVicar stands to
benefit from its variety and quality of products".
Zhejiang Hongbo Chemical Co. Ltd. is a wholly owned Chinese subsidiary of
McVicar (Hongkong) Advanced Material Co. Ltd. which is 90.5% owned by McVicar.
Hongbo has developed over 30 advanced intermediate chemical products for the
personal care, industrial and pharmaceutical industries with close corporation
with the best chemical organization in China, the Shanghai Institute of
Organic Chemistry under the China Academy of Sciences.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: please contact Ms. Exavier Peterson at: 55
University Avenue, Suite 605, Toronto, ON, M5J 2H7, Tel: (416) 366-7420, Fax
(416) 366-7421, www.mcvicar.ca