USANA Acquires Manufacturing Facility in China
USANA Acquires Manufacturing Facility in China
USANA Health Sciences Inc. (NASDAQ: USNA) today announced that it has purchased for cash a personal care manufacturing facility in China. The experienced local management team will remain in place and the facility features expansion capability. The terms of the transaction were not disclosed.
"This marks a significant first step for our long-term plan of developing the Chinese market," said USANA President Dave Wentz. "The recent release of the new regulations that will govern direct selling in China allows us to actively prepare for entry into one of the world's largest direct selling markets."
The regulations indicate that the new direct selling laws will go into effect on Dec. 1, 2005. USANA's timeline for receiving a direct selling license and obtaining product approvals is uncertain, but could take as long as 12 months.
USANA Health Sciences Inc. (NASDAQ: USNA) today announced that it has purchased for cash a personal care manufacturing facility in China. The experienced local management team will remain in place and the facility features expansion capability. The terms of the transaction were not disclosed.
"This marks a significant first step for our long-term plan of developing the Chinese market," said USANA President Dave Wentz. "The recent release of the new regulations that will govern direct selling in China allows us to actively prepare for entry into one of the world's largest direct selling markets."
The regulations indicate that the new direct selling laws will go into effect on Dec. 1, 2005. USANA's timeline for receiving a direct selling license and obtaining product approvals is uncertain, but could take as long as 12 months.
posted by the MLM News Desk at
3:18 AM
