GLG Life Tech Corporation Announces Developments for Stevia in India
12 Maggio 2010 - 12:30PM
Marketwired
GLG Life Tech Corporation (TSX: GLG)(NASDAQ: GLGL) ("GLG" or the
"Company"), the vertically-integrated leader in the agricultural
and commercial development of high quality stevia is pleased to
announce it has signed a memorandum of understanding ("MOU") with
Global AgriSystem Private Limited, a Katra Group company ("Katra")
regarding the introduction of GLG's stevia products in India.
The MOU confirms the interests of both parties to jointly pursue
the promotion of stevia products as a healthy sweetener alternative
for food and beverage manufacturers and consumers in India. The
agreement between the two companies includes an initial phase of
market development for GLG stevia extracts as well as the
agricultural development of growing regions for GLG patented stevia
plant varieties. The companies are also discussing the potential
joint construction of extraction facilities in India as demand is
built.
GLG Chairman and CEO Dr. Luke Zhang commented, "GLG is pleased
to work with the Katra Group after our growing relationship has
shown our companies to share a common vision of promoting the
health and well-being of millions of people who can benefit from
the use of stevia. As the world's leading consumer of sugar and one
of the largest markets globally, India holds significant potential
for GLG stevia extracts which can aid in the reduction of sugar
consumption in the consumer diet. We look forward to working with
the Katra Group to continue to develop and build this opportunity
together."
Mr. Gokul Patnaik, Chairman of Global Agri commented, "India
needs value added agri products like stevia, that provide solutions
to meet the local demand gap for sweeteners. India's agriculture
base can easily adapt and handle the growing of the stevia plant,
given its conducive climatic conditions."
Mr. Ramesh Vangal, Chairman of Katra Group states, "Stevia
blends very well with the wellness focus of the group and it is our
endeavor to partner with global leaders like GLG to bring cutting
edge technologies which can leverage the large agri base of India
to provide consumers with a natural and healthy alternative to
sugar."
India has experienced recent growth in obesity rates among
consumers as daily intake of sugar continues to grow. This trend
has resulted in proliferation of additional associated health risks
including diabetes. According to the World Diabetes Foundation,
India has the world's highest rate of diabetes with more than 50.8
million people suffering from the disease. Governmental and
societal concerns over diet and intake have created a key
development opportunity for healthier food and beverage ingredients
such as stevia. With a population of 1.2 billion, GLG believes
India's consumer base offers an untapped market for GLG stevia
extracts and a significant opportunity for natural, zero calorie
sweeteners.
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
including Rebpure™, Rebsweet™, AnySweet™ and the Company's newest
line Sweet Success™, make it the leading producer of high purity,
great tasting stevia extracts. For further information, please
visit www.glglifetech.com.
About Katra Group
Katra Group is a diversified group with specific focus on
wellness and value-added agri products. The wellness business
focuses on traditional Indian medicine (ayurveda) and nutraceutical
sectors. Its other group company, Global Agri, is a leading supply
chain and cold storage provider for fresh fruits and vegetables and
has a pan-India presence. For further information, please visit
www.katra.biz.
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 +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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