DALLAS, Oct. 14, 2004 (PRIMEZONE) -- DALLAS Wall Street Futures, a leading source of news and information for the small-cap investor, continues to monitor Natural Harmony Foods, Inc. (Pink Sheets:NHYF) as its featured company in the retail space.
NHYF announced this week that it has reached agreements with qualified copackers in Florida, Georgia and Pennsylvania for production of the company's SoyLean(r) brand products. The selected copackers are USDA approved and bring years of industry experience to their new role in producing and packaging SoyLean(r) brand products. Collectively, the copackers have produced for quick-serve restaurants such as Wendy's International (NYSE:WEN), as well as for many of the leading U.S. foodservice companies. They also have produced value-added products for such leading food marketers as Perdue, Tyson Foods (NYSE:TSN), and ConAgra Foods (NYSE:CAG).
NHYF estimates that the Florida copacker has the immediate capability to produce 20 million pounds of uncooked SoyLean(r) products annually with a sales value of $50 million. The producers in Georgia and Pennsylvania each can produce 10 million pounds of fully cooked SoyLean(r) products specifically for retail sale; each of these outputs would have an annual retail sales value of $35 million. The company projects that these copackers will be able to satisfy the SoyLean(r) sales volume of the eastern half of the United States through 2006.
NHYF's popular SoyLean(r) brand marries the taste and nutrition of natural, lean beef, chicken and pork with the health benefits of soy. The company's trial products were introduced in 2002 in Southern Florida Publix supermarkets, where they became the first meat products ever to gain U.S. government approval to include the soy heart health claim on their labeling. For full retail production, NHYF intends to launch a line of five products in the coming months: SoyLean(r) Flame Broiled Beef Patties, SoyLean(r) Breakfast Sausage, SoyLean(r) Chicken Patties, SoyLean(r) Beef Meatballs, and SoyLean(r) Chicken Strips.
Shares of NHYF closed Wednesday at $0.06, a price level that should attract many investors.
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