GLG Life Tech Corporation Announces MOU Signed With Leading Sugar Producer Grupo Azucarero Mexico
04 6월 2010 - 7:30PM
Marketwired
GLG Life Tech Corporation (TSX: GLG)(NASDAQ: GLGL) ("GLG" or the
"Company"), a vertically-integrated leader in the agricultural and
commercial development of high quality stevia, announces it has
signed a memorandum of understanding ("MOU") with Grupo Azucarero
Mexico ("GAM") relating to the distribution and marketing of its
stevia extract products.
GAM is the largest private producer of sugar in Mexico,
following only the Mexican government. The company owns and
operates sugar mills and packaging plants throughout Mexico and
specializes in the production, processing and distribution of sugar
cane, as well as in the elaboration and sale of sugar-based
derivates and products.
Similar to other countries, Mexico is fighting an obesity
problem. According to national surveys, an estimated 71% of Mexican
women and 66% of Mexican men are overweight. The studies also
indicate that childhood obesity has sharply increased in recent
years. While some attribute the increase to soft drink consumption,
there are likely other factors that have contributed to the rapid
rise.
In 2009, Mexico approved the use of stevia in food and beverages
which has led to significant interest in the sweetener and a number
of new product launches. Leading beverage giant PepsiCo already
launched its G2® brand of Gatorade® with stevia which has been met
with enthusiasm among Mexican consumers. GLG believes that in
global markets, such as Mexico, where sugar consumption is high
that the introduction of the Company's stevia extracts may enable
food and beverage manufacturers to offer better-for-you choices to
the consumer. Further, collaboration with market leaders such as
GAM creates opportunity for natural, blended solutions that combine
sugar and stevia to help reduce calories and provide healthy, great
tasting products.
GLG Chairman and CEO Dr. Luke Zhang stated, "We are excited
about the possibilities between GLG and GAM, including the
opportunity to create new blends and offer the healthy benefits of
stevia to consumers in Mexico. We look forward to building the
Mexican market together, and to forming a productive long-term
relationship between our two companies."
CEO of GAM Juan Cortina Gallardo said, "At GAM we see stevia as
part of the natural sweetener family. Our focus and closeness to
our customers demand that we provide competitive and natural
solutions to their sweetener supply. We have found in GLG the
perfect partner and a true leader in the different stages of stevia
production. We feel very enthusiastic about our partnership with
GLG and look forward to working together in bringing value added
and low calorie options to the markets we serve."
About GLG Life Tech Corporation
GLG Life Tech Corporation is a global leader in the supply of
high purity stevia extracts, an all natural, zero-calorie sweetener
used in food and beverages. The Company's vertically integrated
operations cover each step in the stevia supply chain including
non-GMO stevia seed breeding, natural propagation, stevia leaf
growth and harvest, proprietary extraction and refining, marketing
and distribution of finished product. GLG's advanced technology,
extraction technique and premier, high quality product offerings
make it the leading producer of high purity, great tasting stevia
extracts. For further information, please visit
www.glglifetech.com.
About Grupo Azucarero Mexico
Grupo Azucarero Mexico is a leading sugar producer within the
NAFTA market. The company owns and operates four sugarcane mills
which produce standard and refined sugar which is suited to serve
the industrial market for Mexico and North America. In addition,
the company operates packaging facilities for sugar and sugar
containing products. In 2008, the company sold 51% of the Ingenio
Benito Juarez to Grupo Incauca, Colombia's leader of sugar and
ethanol production. The company is actively diversifying its
operations into sugar cane and energy production. For further
information, please visit www.gamsa.com.mx.
Forward-looking statements: This press release contains certain
information that may constitute "forward-looking information" and
"forward-looking statements" within the meaning of applicable
Canadian and United States securities laws. All statements relating
to plans, strategies, projections of results of specific activities
or investments, and other statements that are not descriptions of
historical facts may be forward-looking statements. Forward-looking
statements and information are inherently subject to risks and
uncertainties, and actual results could differ materially from
those currently anticipated due to a number of factors, which
include, but are not limited to, operational risks, the effects of
general economic conditions, changing foreign exchange rates and
actions by government authorities, uncertainties associated with
legal proceedings and negotiations, industry supply levels,
competitive pricing pressures and other risks and uncertainties
disclosed in the public documents filed by the Company with
Canadian and United States securities regulatory authorities.
Forward-looking statements and information may be identified by
terms such as "may", "will", "should", "continue", "expect",
"anticipate", "estimate", "believe", "intend", "plan" or "project",
or similar terms or the negatives of these terms. Although we
believe that the expectations reflected in the forward-looking
statements and information are reasonable, we cannot guarantee
future results, levels of activity, performance, or achievements.
The Company's forward-looking statements and information reflect
the beliefs, opinions and projections on the date the statements
are made. The Company assumes no obligation to update
forward-looking information should circumstances or management's
estimates or opinions change, except as required by law.
Contacts: Fleishman-Hillard Micah Hirschfield Media Inquiries +1
(713) 513-9516 office or +1 (512) 799-5520 mobile
Micah.hirschfield@fleishman.com GLG Life Tech Corporation David
Bishop Executive Vice President, International Affairs +1 (404)
229-0171 info@glglifetech.com www.glglifetech.com
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