Tiens Biotech Group
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| Type | Pharmaceutical |
|---|---|
| Industry | Pharmaceutical |
| Founded | 1998 |
| Headquarters | Tianjin, People's Republic of China |
| Area served | People's Republic of China |
| Key people | Jinyuan Li, CEO Dr. Wenjun Jiao, CFO Eric Doering, General Counsel Yupeng Yan, VP HR, Admin Ping Bai, Exec. Asst. to President Cindy Lu, Secretary Socorro M. Quintero, Director Howard R. Balloch, Director Gilbert D. Raker, Director |
| Products | Pharmaceutical nutrition supplement |
| Revenue |  $77.2 million USD (2008) |
| Net income | $27.7 million USD (2008) |
| Employees | 1,549 (31st December, 2008) |
| Subsidiaries | Tianjin Tianshi Biological Development Co., Ltd. Tiens Yihai Co., Ltd. |
| Website | www.tiens.com |
Tiens Biotech Group USA Inc., (AMEX: TBV), operates primarily through its China-based subsidiary Tiens Biological Development CO. Ltd. Tiens Biological has developed and produced seven major product series, of which six comprise nutrition supplement products, and the seventh comprises personal care products. It develops its products at its own product research and development center and conducts the marketing and sales of its products through its affiliated company, which owns 23 branches, representative offices and chain stores. The company's stock is traded on the American Stock Exchange. On its initial IPO, entering public market with offering price of USD12/share has inflate Tiens value however as time goes by, the share value continuously dropped to USD 1.32/share (May 2011).[1]
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[edit] Joint venture
The company entered into a joint venture with Tianjin Tianshi Pharmaceutical Co., Ltd. in 2004 :
In April 2004 Tiens' wholly owned subsidiary, Tianshi International Holding Group Ltd. entered into a joint venture agreement with Tianjin Tianshi Pharmaceutical Co., Ltd. to establish Tiens Yihai, a Chinese-Foreign Equity Joint Venture. Located in Shanghai,China, Tiens Yihai is in the business of research and development, production and marketing of nutrition supplements products, home care and personal care products. The total investment amount is projected to be approximately $40 0million.
Tiens Yihai Co. Ltd. holds land use rights for 50 acres (200,000 m2) of land located in Shanghai, China. Tiens Yihai Co. Ltd. was established to build a new research and development facility. In March 2007, Tiens Biotech Group (USA), Inc. decided to suspend the proposed development by Tiens Yihai due to financial difficulties.
On November 15, 2009, Tianshi International Holdings Group Ltd. agreed to sell all of the registered share capital of Tiens Yihai Co. Ltd. it owns to Tianshi International Investment Group Co., Ltd.
Jinyuan Li, the Chairman, Chief Executive Officer and President of Tiens Biotech Group (USA), Inc., owns 100% of Tianshi International Investment Group Co., Ltd.
Tianshi International Holdings Group Ltd. holds 96% of the equity interest in Tiens Yihai Co. Ltd. Tianjin Tianshi Pharmaceuticals Co., Ltd. owns the remaining 4% of Tiens Yihai’s share capital.
The transaction is expected to be closed by December 2009, subject to approval by the appropriate examination and approval authority of the People’s Republic of China to record the equity transfer.
Pursuant to the Agreement, the total purchase price of $37,000,000 for the acquisition will be payable as follows: (i) $3,700,000 by January 14, 2010 and (ii) $33,300,000 by November 14, 2010.
[edit] See also
[edit] References
- ^ "Stock Quotes & Company News". Reuters.com. 2009-02-09. http://www.reuters.com/finance/stocks/overview?symbol=TBV.A. Retrieved 2012-01-30.
- [1] 2008 Annual Report.
- [2] SEC filing detailing Tiens Yihai Co. Ltd. stake transfer to Tianshi International Investment Group Co., Ltd.
[edit] External links
- Tiens Group. Official site
- New biz model paving the way to success, China Daily, November 3, 2006
- Tiens (TBV.A) shares value in stock exchange
- Tiens Performance in Indonesia, report in Asian Language, Jan 2009
- Tiens in Serbia
- Tiens in Tibet
