GLG Life Tech Corporation Announces Five-Year Global High-Purity Rebaudioside C Supply Agreement With International Flavors &...
30 Novembre 2011 - 12:30PM
GLG Life Tech Corporation (Nasdaq:GLGL) (TSX:GLG) ("GLG" or the
"Company"), the vertically-integrated leader in the agricultural
and commercial development of high quality stevia and all-natural
and zero-calorie food and beverage products, is pleased to announce
the signing of a renewable five-year product supply agreement with
International Flavors & Fragrances Inc. ("IFF") for high-purity
Rebaudioside C ("Reb C") extracts.
IFF is a global leader in the creation of flavors and fragrances
used in a wide variety of consumer products and packaged goods. The
signing of the exclusive product supply agreement by GLG and IFF
jointly leverages each company's strengths to pursue exploration
and commercialization of Reb C, one of the eleven primary
glycosides in the stevia leaf. Reb C has demonstrated its
proficiency as a flavour modulator in food and beverage
formulations and is expected to provide an exciting market
opportunity for the companies.
The Company's Chairman and CEO, Dr. Luke Zhang, commented, "Our
leading capabilities in the separation of steviol glycosides,
production quality, and scale, coupled with IFF's global strengths
in innovative and advanced flavour systems for high purity Reb C,
make this an exciting global opportunity for GLG. We are
pleased to be working with International Flavors & Fragrances
to help develop the market for high purity Reb C."
Mark Dewis, Vice President R&D, Flavors for IFF, said,
"Commercialization of Reb C marks another step forward in the
evolution and development of IFF flavor solutions. This technology
will play an important role in supporting healthy and great-tasting
flavors for our customers. I am delighted with the dedicated
efforts of GLG and IFF in the commercialization of this technology
and look forward to making it a success."
About GLG Life Tech Corporation
GLG Life Tech Corporation (Nasdaq:GLGL) (TSX:GLG) 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.
The GLG Life Tech Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7994
About International Flavors & Fragrances
Inc.
International Flavors & Fragrances Inc. (NYSE:IFF) is a
leading global creator of flavors and fragrances used in a wide
variety of consumer products. Consumers experience these
unique scents and tastes in fine fragrances and beauty care,
detergents and household goods, as well as beverages, confectionery
and food products. The Company leverages its competitive
advantages of consumer insight, research and development, creative
expertise, and customer intimacy to provide customers with
innovative and differentiated product offerings. A member of
the S&P 500 Index, IFF has more than 5,500 employees working in
33 countries worldwide. For more information, please visit our
website at www.iff.com.
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.
CONTACT: Sophia Luke
Vice President of Investor Relations
GLG Life Tech Corporation
+1 (604) 669-2602 Ext 104
ir@glglifetech.com
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