SOURCE: HQ Sustainable Maritime Industries, Inc.

May 16, 2007 08:18 ET

HQ's Nutraceutical Plant Certified GMP for Health Food

HQ Joins Top 20% of Pharmaceutical and Health Product Manufacturers in China

SEATTLE, WA -- (MARKET WIRE) -- May 16, 2007 -- HQ Sustainable Maritime Industries, Inc. (OTCBB: HQSB), a leader in toxin-free integrated aquaculture and aquatic product processing, announced today that its nutraceutical and feed supplements manufacturing facility has been certified in compliance with the requirements of Chinese Good Manufacturing Practices (GMP) for health food in accordance with China National Health Inspections regulations, as of April 30th, 2007. This certification remains valid for five years.

According to the United Nations Development Programme (UNDP), the Chinese pharmaceutical industry has experienced an average annual growth rate of over 15% since 1998. Health spending in China accounts for 5.5% of total Gross Domestic Product (GDP) (compared to 13.9% in North America).

The pharmaceutical industry in China is undergoing major reforms in bringing domestic production to international standards. Reforms are designed to accelerate the consolidation, capitalization, and privatization of the pharmaceutical and health products industry. The Good Manufacturing Practice (GMP) standard, assures that the highest production standards are respected, consolidating health and pharmaceutical production standards in China. Companies must meet GMP manufacturing standards in order to maintain government licenses to produce drugs and health products. Only companies that meet the GMP standard may apply for new drug and health product approvals with the State Food and Drug Administration (SFDA) (See http://www.sfda.gov.cn/eng). The SFDA estimates that less than 20% of China's 6,000 pharmaceutical companies meet GMP standard. Companies that do not meet the GMP standards will no longer be allowed to continue and will be closed down.

Norbert Sporns, CEO of HQ Sustainable, added, "Our company's achieving the new GMP manufacturing standards represents a significant competitive advantage allowing HQ to potentially capture greater market share in China for our line of health products."

About HQ Sustainable Maritime Industries, Inc.

HQ Sustainable Maritime Industries, Inc. is an integrated aquaculture and aquatic product processing company, with operations based in the environmentally pristine island province of Hainan, in the South China Sea. HQ practices cooperative sustainable aquaculture, using nutraceutically enriched feeds and conducting fish processing and sales. The company is dedicated to sustainable toxin-free methods giving its customers the purest products possible. The Company holds HACCP certification from the U.S. FDA and the EU Code assignment of quality, permitting its products to be sold in these international markets. It owns a nutraceuticals and health products company, which is HACCP and GMP certified, and produces and sells products subject to stringent laboratory tests certified by the China Ministry of Health. This GMP certified plant produces nutraceuticals, which enrich feed used by HQ's cooperative aquaculture operations. HQ has commenced construction of a 100,000 ton per year organic feed mill in Wenchang. In addition to headquarters in Seattle, HQ has operational offices in Wenchang, Hainan. (http://www.hqfish.com).

Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of HQ Sustainable Maritime Industries, Inc. (the Company) to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under "Search for Company Filings."

Contact Information

  • Contact:

    Norbert Sporns
    Chief Executive Officer
    HQ Sustainable Maritime Industries, Inc.
    Toll free: 866-907-1757
    Fax: 206-621-0318
    Email Contact