EDMONTON, Alberta, Oct. 24 /PRNewswire-FirstCall/ -- Medical Services International Inc. wishes to announce that its Shanghai facility has had to increase its production capacity from 5.0 million VScan test kits per year to 6.5 million test kits per year.
Previously all of the VScan test kits produced in Shanghai were used to supply customers inside China. Over the last 45 days, the Company has received multiple large orders from countries in Southeast Asia that border or are close to China. The only way to accommodate these orders is to produce them in the Shanghai facility. Studies have shown that the increased production volumes in Shanghai will result in reduced labor costs per kit, reduced component and raw materials costs and reduced shipping costs. It is anticipated that by increasing production in Shanghai, the overall profit margins of the test kits from the Shanghai facility will increase by 13.2% or an overall reduction of production costs of $163,000 USD.
About VScan
The VScan rapid test kit is a single use, disposable, accurate, cost effective, easy to use, test for the screening of HIV1&2, Hepatitis B&C, Tuberculosis (TB), Dengue Fever, West Nile, Syphilis, Malaria, and Prostate Cancer. The kits cannot be sold in Canada.
Medical Services International Inc. trades in the United States on the NQB Pinksheets under the symbol “MSITF”. For further information, please contact Robert Talbot at (780) 430 6363 or media contact Bill Whitehead at (416) 822 5883 or http://www.medicalservicesintl.com or http://www.minerva-biotech.com .
NOTE: Certain statements in this press release are “forward-looking statements” within the meaning of the Private Securities Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause results to differ materially. Such risks, uncertainties and other factors include but are not limited to new economic conditions, risk in product development, market acceptance of new products and continuing product demand, level of competition and other factors described I Company reports and other filings with regulatory bodies.
Medical Services International Inc.
CONTACT: Robert Talbot, +1-780-430-6363, or media, Bill Whitehead,+1-416-822-5883, both of Medical Services International Inc.
