VANCOUVER, British Columbia, Dec. 14, 2012 (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 Orkila Holding S.A.L. for the distribution and marketing of GLG's stevia extract products throughout the Middle East and African markets.
Brian Meadows, President of GLG Life Tech Corporation stated, "We are extremely pleased to enter into this agreement with Orkila to market GLG's products throughout the Middle East and African markets. Orkila is the largest distributor of chemical products in those markets and we look forward in building a successful partnership with Antoine Sacy and his team at Orkila in the coming months."
Antoine Sacy, Chairman of Orkila Holding, said; "We see this move as an excellent opportunity to reinforce Orkila's position as the leading chemical distributor in these emerging markets. Representing one of the world's leaders in supplying zero-calorie sweeteners used in food and beverage products and solutions will strengthen Orkila across a number of important market segments in the Middle East and Africa markets."
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.
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About Orkila Holding S.A.L.
Orkila Holding S.A.L. (Orkila) is the largest distributor of chemical products in the Middle East and African markets. The company imports and sells chemical products that are for Home and Personal Care, Pharmaceuticals, Food, Animal Nutrition & Health, Agrochemical & Fertilizers, Paints and Construction, Tyre, Rubber, Textile and Plastic, Silicones, Paper, Glass and Crystal, Oilfield, Metal and Water Treatment and Automotive products.
Active in more than 30 countries, the teams of Orkila operate in 18 regional centres and have warehousing in each of these centres. Orkila sources product from a solid base of over 100 major chemical manufacturers and supplies a broad client base of 3,000 customers ranging from multi-national manufacturing subsidiaries to small local customers. For further information please visit www.orkila.com.
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.