SOURCE: Dragon International Group Corp.

September 15, 2008 08:00 ET

Dragon International Group Announces Initial Sales Into Pharmaceutical Packaging Market in India and Pakistan as It Increases Global Sales and Distribution Channels

NINGBO, CHINA--(Marketwire - September 15, 2008) - Dragon International Group Corp. (OTCBB: DRGG), a China-based manufacturer and distributor of specialty paper products and packaging materials, recently announced the company has successfully begun to broaden its overseas market base, focusing its sales and marketing efforts to establish and increase market share in India and Pakistan. Over the past few months, Dragon International secured orders from several new customers including a major India-based pharmaceutical company, Sun Pharmaceutical Industries, Ltd. The Indian drug packaging materials market has grown substantially over the course of the last 5 years and Dragon International is confident it can reach a monthly sales target for its packaging materials in the Indian market of approximately 40 tons a month.

India currently has a US$ 8.2 Billion pharmaceutical market, making it one of the most substantial emerging pharmaceutical markets in the world. According to the RNCOS latest report "Booming Pharma Sector in India," in the near future, the potential and opportunities within this market will increase by several fold. The Indian market, presently driven by a population of over one billion, an expanding GDP, and rapid epidemiological transitions, it is expected to be the major player in the global pharmaceutical market both in terms of its large domestic market and also as a pharmaceutical export hub.

Dragon International currently has received orders from five customers in Pakistan, who are Allied Trading and Packaging, Medisure Laboratories, Ltd., Nabisqasim Industries, Ltd, Platinum Pharmaceuticals and SAMI Pharmaceuticals, Ltd. Dragon International is confident it can reach a monthly sales target for its packaging materials in the Pakistan market of approximately 20 tons a month.

David Wu, CEO of Dragon International, stated, "By increasing our global sales channels into emerging markets such as India and Pakistan, our company can continue to leverage on our production capabilities and expertise in this specialized industry. We believe the inroads we have made into these new markets is another positive step forward in our strategic growth plan and will continue to fuel our growth for the remainder of 2008 and into 2009."

About Dragon International Group Corporation

Dragon International Group Corp. is one of China's manufacturers and distributors of specialty paper products and packaging materials. DRGG has a distribution network covering east and central China. The Company and its subsidiaries have cultivated strategic relationships with several of the world's largest and most well-known manufacturers of paper and specialty packaging products. Dragon's Wellton International Fibre Corp subsidiary operates as an agent of pulp and related paper products, primarily acting as an agent and supplier for two categories of goods: paper pulp and waste paper. Wellton customers are manufacturers of paper and related products. The majority of Wellton's customers purchase both products using the services of Wellton. Paper pulp and waste paper are raw materials used to manufacture paper related products such as packaging products, office paper and other paper related products. For more information, please visit http://www.drgg.net.

Safe Harbor Statement

In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Dragon International Group Corp., is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "intends," "plans," "believes" and "projects") may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our guidance and expectations regarding revenues, net income and earnings. In addition, any such statements are qualified in their entirety by reference to, and are accompanied by, the following key factors that have a direct bearing on our results of operations: our ability to achieve expected sales in India and Pakistan at prices and on terms which are profitable and the business operating risks and hazards inherent in the business we operate in.

We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings, including our Annual Report on Form 10-KSB for the year ended June 30, 2007.

Contact Information

  • Contact:

    Dragon International Group
    Tel: 1-877-CHINA-57
    Email: info@drgg.net