Nu Skin Enterprises Buys land, Announces new Pharmanex manufacturing Facuility in China
Nu Skin Enterprises Buys land, Announces new Pharmanex manufacturing Facuility in China
$20 Million Plant Scheduled for Completion in 2007
PROVO, Utah — June 10, 2005 — Nu Skin Enterprises, Inc. (NYSE: NUS) today announced the purchase of 7.5 acres in Feng Xian, China, the future home of a $20 million, 180,000 sq. ft. Pharmanex manufacturing facility.
“We are excited to announce this new Pharmanex manufacturing facility, which will significantly add to our presence in China and reduce our cost of sales,” said President and Chief Executive Officer Truman Hunt. “Like our current manufacturing facilities, the Feng Xian plant will operate under our patented Pharmanex 6S Quality Process, a strict regimen of quality control and product testing that helps Pharmanex be a category leader in nutritional supplements.”
The new facility will have the capacity to employ more than 1,000 people. Construction on the plant is scheduled to begin the first quarter of 2006 and is scheduled to be completed by the second quarter of 2007.
About Pharmanex
Pharmanex, a Nu Skin Enterprises company, applies pharmaceutical processes and scientific measurement to create nutritional supplements for more than 40 markets worldwide. Pharmanex® products are sold direct to the consumer through a network of independent distributors and the Internet. For more information, go to www.pharmanex.com.
Nu Skin Enterprices
Page 2
June 10, 2005
The Company
Nu Skin Enterprises, Inc. is a global direct selling company operating in 40 markets throughout Asia, the Americas and Europe. The company markets premium quality personal care products under the Nu Skin® brand, science-based nutritional supplements under the Pharmanex® brand, and technology based products and services under the Big Planet® brand. Nu Skin Enterprises is traded on the New York Stock Exchange under the symbol “NUS”.
Please note: This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 that represent the company's current expectations and beliefs, including, among other things, the company's operational plans in China and the impact on gross margins. The forward-looking statements and related assumptions involve risks and uncertainties that could cause actual results and outcomes to differ materially from any forward-looking statements or views expressed herein, including, but not limited to, (i) delays in construction of the manufacturing facility and (ii) unanticipated costs associated with the manufacturing facility. The forward-looking statements contained herein are further qualified by a detailed discussion of associated risks set forth in the documents filed by the company with the Securities and Exchange Commission, including the company's Annual Report on Form 10-K filed on March 15, 2005. The forward-looking statements set forth the company's beliefs as of the date of this release, and the company assumes no duty to update the forward-looking statements contained in this release to reflect any change.
PROVO, Utah — June 10, 2005 — Nu Skin Enterprises, Inc. (NYSE: NUS) today announced the purchase of 7.5 acres in Feng Xian, China, the future home of a $20 million, 180,000 sq. ft. Pharmanex manufacturing facility.
“We are excited to announce this new Pharmanex manufacturing facility, which will significantly add to our presence in China and reduce our cost of sales,” said President and Chief Executive Officer Truman Hunt. “Like our current manufacturing facilities, the Feng Xian plant will operate under our patented Pharmanex 6S Quality Process, a strict regimen of quality control and product testing that helps Pharmanex be a category leader in nutritional supplements.”
The new facility will have the capacity to employ more than 1,000 people. Construction on the plant is scheduled to begin the first quarter of 2006 and is scheduled to be completed by the second quarter of 2007.
About Pharmanex
Pharmanex, a Nu Skin Enterprises company, applies pharmaceutical processes and scientific measurement to create nutritional supplements for more than 40 markets worldwide. Pharmanex® products are sold direct to the consumer through a network of independent distributors and the Internet. For more information, go to www.pharmanex.com.
Nu Skin Enterprices
Page 2
June 10, 2005
The Company
Nu Skin Enterprises, Inc. is a global direct selling company operating in 40 markets throughout Asia, the Americas and Europe. The company markets premium quality personal care products under the Nu Skin® brand, science-based nutritional supplements under the Pharmanex® brand, and technology based products and services under the Big Planet® brand. Nu Skin Enterprises is traded on the New York Stock Exchange under the symbol “NUS”.
Please note: This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 that represent the company's current expectations and beliefs, including, among other things, the company's operational plans in China and the impact on gross margins. The forward-looking statements and related assumptions involve risks and uncertainties that could cause actual results and outcomes to differ materially from any forward-looking statements or views expressed herein, including, but not limited to, (i) delays in construction of the manufacturing facility and (ii) unanticipated costs associated with the manufacturing facility. The forward-looking statements contained herein are further qualified by a detailed discussion of associated risks set forth in the documents filed by the company with the Securities and Exchange Commission, including the company's Annual Report on Form 10-K filed on March 15, 2005. The forward-looking statements set forth the company's beliefs as of the date of this release, and the company assumes no duty to update the forward-looking statements contained in this release to reflect any change.