GLG Life Tech Corporation Announces Distribution Agreement Signed With Sugar Australia
13 7월 2010 - 10:36PM
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 the
signing of a five-year agreement with Sugar Australia for the
distribution and marketing of GLG's stevia extract products. The
companies are working in partnership to market stevia and its use
as an ingredient to the food and beverage sector in Australia and
New Zealand.
Key highlights under the terms of this agreement include:
-- Initial term of five years with an automatic renewal provision for
another five years subject to certain conditions
-- Mutual exclusivity between the two companies based on successful
achievement of agreed GLG product purchases levels, which will be
established by mutual agreement year by year
-- Marketing support, as well as sales and technical training, to be
provided by GLG to Sugar Australia
-- Sugar Australia to market GLG's full line of products within their
serving territory including Rebpure™, Rebsweet™, and the
BlendSure™ product line
Dr. Luke Zhang, CEO of GLG stated, "As the global market for
stevia continues to grow and food and beverage companies realize
the power available through stevia-based sweetening systems to
affect change and offer reduced-calorie, better-for-you product
choices for the consumer, GLG has chosen to partner with several
market leaders such as Sugar Australia with whom we believe we can
work to effectively reach consumers and to market what we believe
to be the highest quality, best tasting stevia extracts at a great
value and competitive price structure."
Ian Glasson, CEO of Sucrogen, said, "Sugar Australia has chosen
to partner with GLG in the food and beverage sector to bring a new
and exciting range of stevia ingredients as part of our range of
sweetener solutions, particularly as manufactures seek alternatives
in developing healthier products that meet consumers' changing
needs."
The agreement is effective as of July 9, 2010.
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 a leading producer of high purity, great tasting stevia
extracts. For further information, please visit
www.glglifetech.com.
About Sucrogen
Sucrogen is the new corporate identity for CSR Sugar. Sucrogen
is the largest raw sugar producer in Australia and the eighth
largest producer globally and owns seven sugar mills capable of
producing in total 2.1Mt of raw sugar per year.
Through its interest in Sugar Australia and New Zealand Sugar
Company, Sucrogen is the largest sugar refiner in Australia and New
Zealand with its three sugar refineries capable of producing 970kt
of sugar annually.
Sucrogen is Australia's largest producer of sugar-based ethanol,
which is used as an additive in fuel and for a range of industrial
purposes. Sucrogen is also Australia's largest renewable energy
generator from biomass.
About Sugar Australia
Sugar Australia, Australia's leading sugar refiner, services
both industrial and consumer markets. The company operates across
multiple business channels including, the supply of sugar as an
ingredient into the food and beverage sector, retail in which its
CSR consumer brand has the leading market share, as well as
foodservice and exports. Australia is the world's third largest
exporter of sugar valued at more than $2 billion annually.
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 Brian
Meadows Chief Financial Officer +1 (604) 844-2840
info@glglifetech.com www.glglifetech.com
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