VANCOUVER, British Columbia, Sept. 11, 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 launch of GLG Naturals+, a new product line with support from China National Cereals, Oils, and Foodstuff Corporation ("COFCO").
GLG Naturals+ is focused on sourcing high-quality/low-cost natural and functional food ingredients from China through a unique certification program designed to address the concerns of international food and beverage companies. GLG and COFCO's many years of experience in delivering food ingredients to leading multinational customers results in deep familiarity with international food safety standards and the need for transparency in supply chains. Our China-based GLG Naturals+ Team leverages strong relationships to rate and certify every supplier that we represent under the R8 program.
R8 program elements are:
- Verified quality through independent testing
- Competitive pricing
- Confirmed capacity and consistent supply of ingredients
- Factory site audits and routine facility visits
- International customer service standards
- Recognized international certifications from reputable third parties
- Commitment to environmental and safety practices
- Verification of manufacturer's assets and financial credit checks.
Examples of products in the growing portfolio include: crystalline fructose, erythritol, inositol, inulin, lo han guo, and lycopene, all synergistic with the Company's current stevia products. Dr. Luke Zhang, CEO of GLG, comments: "China's food ingredient market is currently worth US$96 billion and exports continue to gain market share in global markets. The challenge for international food and beverage companies has been to perform the required due diligence to identify dependable suppliers without a local team on the ground. GLG Naturals+ provides them the comfort they require in sourcing ingredients by providing a localized procurement and quality assurance team in China at significantly reduced expense."
For more information, please refer to the GLG Naturals+ website, www.glgnaturals.com .
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. For further information, please visit www.glglifetech.com .
About COFCO
COFCO is China's largest integrated agricultural, cereals, oils and foodstuffs processing enterprise, has been among the Fortune 500 for 19 consecutive years and is ranked No. 1 among the Top 100 in China's food industry. Worldwide revenues were estimated to be $28 Billion in 2012, with over 60,000 employees worldwide. International partners include Coca-Cola Co. and Groupe Danone SA.
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, 2012. 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.