LONDON, Nov. 16, 2004 (PRIMEZONE) -- Humatech, Inc. (OTCBB:HUMT) today announced that its U.K.-based European distributor, Humatech Ltd., has been awarded a food safety certification making it an approved and registered animal feed ingredient supplier.
The coveted certification comes at a time when new food safety regulations in the United Kingdom, to become effective January 1, 2005, and soon to be adopted throughout the European Union, mandates that all those involved in the manufacture, supply and distribution of animal feed ingredients conform to the new and stringent requirements of the Universal Feed Assurance Scheme (UFAS).
"We are absolutely thrilled at this enormous validation for Humatech and Humatech Ltd.," said Humatech's President & CEO, David Williams. "These new, more restrictive regulations replace older ones that were not as stringent, and guarantee that the highest level of quality in the animal feed sector are met, and that Humatech is already there in advance of this mandated formal program, putting us once again at the head of the class. As a consequence of this law's enactment, a number of businesses have already gone out of business."
"As the company's exclusive distributor in the European Union, we are extremely pleased that Humatech's products, Promax(r)/NutriHume(tm), have now received formal certification that our sales of the feed additive meets the requisite high standards laid down by UFAS," said Humatech Ltd. Managing Director David Caney. "The end result is that we gain enormous validation since Humatech Ltd. is now registered as an approved supplier of Humatech's feed ingredients to the animal feed industry, and has met the stringent standards literally months before the official inception of this program."
Caney also cited the work of his management team. "Thanks to the tireless efforts of my colleagues, in particular my co-Director, David Ledsham, who coordinated every aspect of this major undertaking, Humatech Ltd. has today achieved a milestone whose significance cannot be exaggerated," Caney continued.
"UFAS certification elevates our business, and increases our sales opportunities many times over. Our customers can now buy our animal feed products with confidence, knowing that our operating procedures meet the stringent standards set for companies marketing animal feed ingredients here in the U.K., with the consequent assurances that this provides for the highest safety and highest quality of the humate feed products that we sell. This sets our business apart from every other supplier of humate-based products. To the best of our knowledge, no other competing product or supplier has achieved this momentous step," Caney said.
The award of this certification caps a very rewarding year for Humatech Ltd., both in the animal feed sector and the agricultural marketplace. In July, the company announced that it had won an exclusive three-year agreement to provide agricultural humate products to J & H Bunn Ltd, a major U.K. fertilizer supply company. Product shipments from Humatech, Ltd. commenced in September, and are continuing. The contract called for Humatech Ltd. to be the exclusive supplier of humate products to Bunn, whose revenues last year were $185 million.
"In return for our continuing assistance with technical and scientific matters tied to the marketing of Humatech products, Bunn will purchase all its humate products exclusively from Humatech Ltd., not only for the initial three year period, but thereafter for as long as we continue to supply the company with crop consulting services and products," Caney reported.
Summarizing developments over the past several days, Humatech CEO David Williams observed that, "As I said the other day about developments in the U.S., it seems equally appropriate today to say that in the U.K., as well as the European Union, 'we're on our way.'"
About Humatech Inc.
Humatech, Inc. manufactures all natural nutrient solutions for plants and animals, produced from a proprietary process described as "Iso-Molecular" technology. The company markets Promax(r) to the animal feed industry, and also has an extensive agricultural product line, which it markets in the U.S.A. and Europe, as well as its Organic Advantage(r) retail product line, which consists of 12 organic based liquid products ranging in size from a 4 oz. Planting Solution, to a 2 1/2 gallon Lawn Food. Additional information regarding the company, and its product lines, is available at www.humatech.com.
Certain information contained in this news release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. While these statements are made to convey the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Actual company results may differ materially from those described. The company's operations and business prospects are always subject to risk and uncertainties. A more extensive listing of risks and factors that may affect the business prospects of the company and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission.