VANCOUVER, British Columbia, Jan. 29, 2013 (GLOBE NEWSWIRE) -- GLG Life Tech Corporation (TSX:GLG) ("GLG" or the "Company"), a global leader in the agricultural and commercial development of high quality stevia products announces the signing of a Distribution Agreement with Crest Chemicals (Pty) Ltd. for the distribution and marketing of GLG's stevia extract products throughout the South African market.
Brian Meadows, President of GLG Life Tech Corporation, stated, "We are extremely pleased to enter into this agreement with Crest Chemicals to market GLG's products. Crest Chemicals has a leading position in the South African chemical distribution markets and we look forward to building a successful partnership with Michiel Vijverberg and his team in the coming months."
Michiel Vijverberg, CEO of Crest Chemicals, said, "We look forward to the opportunity of bringing the benefits of stevia products to the South African market. Representing one of the world's leaders in supplying zero-calorie sweeteners used in food and beverage products and solutions will strengthen Crest Chemicals across a number of important market segments and reinforce our position as the leading chemical distributor in the South African market."
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. Through its consumer food products subsidiary, AN0C, the company formulates and markets a wide range of stevia sweetened beverages and foods products within the Chinese marketplace – a true seed to shelf model. 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 Crest Chemicals (Pty) Ltd.
Crest Chemicals (Pty) Ltd. (Crest) is the leading distributor of chemical products in the South African market. The company represents international manufacturers of specialty and commodity chemicals, and distributes these products to the food and beverage, pharmaceutical, nutraceutical, mining, water treatment, paints, coating, surfactants, personal care, and general industries nationally and globally. Crest products include industrial chemicals, fine chemicals and raw materials.
Crest offers national representation with packaging plants and warehouses, and operates via five distribution centers in Midrand, Durban, Cape Town, Port Elizabeth and East London. For further information please visit www.crestchem.co.za or contact their head office at +27 11 254 3300.
Forward-looking statements:This press release contains certain information that may constitute "forward-looking statements" and "forward looking information" (collectively, "forward-looking statements") within the meaning of applicable securities laws. Such forward-looking statements include, without limitation, statements evaluating the market, potential demand for stevia and general economic conditions and discussing future-oriented costs and expenditures. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes" or variations of such words and phrases or words and phrases that state or indicate that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
While the Company has based these forward-looking statements on its current expectations about future events, the statements are not guarantees of the Company's future performance and are subject to risks, uncertainties, assumptions and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Such factors include amongst others the effects of general economic conditions, consumer demand for our products and new orders from our customers and distributors, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations, industry supply levels, competitive pricing pressures and misjudgments in the course of preparing forward-looking statements. Specific reference is made to the risks set forth under the heading "Risk Factors" in the Company's Annual Information Form for the financial year ended December 31, 2011. In light of these factors, the forward-looking events discussed in this press release might not occur.
Further, although the Company has attempted to identify factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
As there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements, readers should not place undue reliance on forward-looking statements.