China Bio Solutions Group Limited

China Bio Solutions Group Limited (“CBSG”) manufactures and sells a range of specialty bio additives, which are used in multiple applications in the food and beverage, oil and drilling, pharmaceutical and personal care industries. CBSG is one of the world’s largest xanthan gum producers, with an annual production capacity of over 36,000 tons as of January 2008. Xanthan (or xanthum) gum is a specialty bio additive that is used as a thickener, stabilizer, or gelling agent. CBSG has a diverse customer base across North America, Europe, China, and Latin America. Currently, approximately 80% of CBSG’s xanthan gum production is exported.

In August 2004, Milestone Capital led the investment in a partial buyout of stake from the largest shareholder of CBSG.