Tiens Biotech Group (USA) Inc (American Stock Exchange)

Tiens Biotech Group (USA), Inc. (Tiens USA), incorporated on July 13, 1990, researches, develops, manufactures, and markets nutrition supplement products, including wellness products and dietary supplement products. The Company's operations are conducted from its headquarters in Tianjin, People’s Republic of China through Tiens USA's 80% owned subsidiary, Tianjin Tianshi Biological Development Co., Ltd. The Company sells its products for distribution in China to Tianshi Engineering, an affiliated Chinese firm, which in turn sells the products to customers through its branches and affiliated companies and at chain stores owned by individual distributors. As of December 31, 2007, Tianshi Engineering had 100 branches in China. Outside of China, Tiens USA sells its products to overseas affiliated companies located in 52 countries that in turn sell them to independent direct sales distributors who use the products themselves and/or resell them to other distributors or consumers.

The Company has developed and produced 33 nutrition supplement products. Wellness products include Tianshi Nutrient Super Calcium Powder, Tianshi Cordyceps Capsules, Tianshi Chitosan Capsules, and Tianshi Ginkgo Leaf Tablet among others. Dietary supplement products include: Tianshi Super Calcium Milk Powder, Tianshi Pine Pollen Powder Capsules and Tianshi Hemp Seed Oil Softgels among others. Each of Tiens USA's wellness products includes at least one health function and has been issued a Certificate of Domestic Wellness Product by the State Food and Drug Administration (SFDA). Dietary supplements, which do not include any health functions, are considered to be ordinary food, and do not require a SFDA certificate. Each of the Company's products has been issued a Product Standard Code by the Bureau of Technical Supervision.

The Company's products are manufactured at its facility in Tianjin, China. The manufacturing processes of nutrition supplement products are categorized into six types depending on the different forms of the finished products: powder, tea, capsules, tablets, granules and soft gel capsules. All of Tiens USA's manufacturing complies with the product standards approved by the Bureau of Technical Supervision in China.

In March 2007, the Company decided to suspend the proposed development of a research and development facility in Shanghai, China by Tiens Yihai Co. Ltd. On December 20, 2007, Tianshi International Holdings Group Ltd. (Tianshi Holdings) entered into a Sale and Purchase Agreement with Tianshi International Investment Group Co., Ltd., a British Virgin Islands Company. Pursuant to the Sale and Purchase Agreement, Tianshi Holdings agreed to buy all of the registered share capital of Tianjin Tiens Life Resources Co., Ltd. (Life Resources), a Chinese Foreign Investment Enterprise. On March 13, 2008, the Chinese government approved the transfer of the shares of Life Resources. Life Resources is constructing research and development, manufacturing and logistic facilities, as well as administrative offices in Tianjin, China.
Tiens USA competes with other direct selling organizations like Avon and Alticor (Amway).

Source :
http://www.reuters.com/finance/stocks/companyProfile?symbol=TBV.A&rpc=66
Another Article :
http://finance.google.com/finance?q=AMEX:TBV
http://topics.nytimes.com/top/news/business/companies/tiens-biotech-group-inc/index.html