- We have a good cooperation with Roxlor and the extension of the contract, both in volume and timeline is important to Hofseth BioCare, says CEO Jon Olav Ødegård in Hofseth BioCare.
Recent studies show that Hofseth Biocare protein products have substantially faster uptake than conventional whey-based protein products, product features that are especially important for applications of the proteins in sport nutrition.
- The results of the studies were presented at the Engredea show in Anaheim two weeks ago. The feedback was very good and rapid uptake means that more and more customers want to use ProGo in the development of their products, says Ødegård.
Roxlor will purchase a significant portion of Hofseth Biocare's production ProGo from the second quarter of 2013. Price is set at market terms for sales of Protein to consumer market. Production volume is ensured by Hofseth Biocare's production facility on Midsund. Roxlor will promote ProGo to the nutrition market for use in replacement meals, sports nutrition and energy drinks.
The Roxlor Group is based in Wilmington, Delaware with operations in the United States, Europe and Asia. The company manufactures high quality capsules for the pharmaceutical and dietary supplement markets and manufactures innovative nutraceutical and cosmeceutical ingredients for the North American, European and Asian dietary supplement and food markets.
For further information, please contact:
Jon Olav Ødegård, CEO Hofseth BioCare ASA
Tel: +47 936 32 966
E-mail: joo@h-bc.no
About Hofseth BioCare:
Hofseth BioCare is a Norwegian biomarine company with the key objective to provide high value added biomarine ingredients for human applications. The Company is founded on the core value of sustainability and optimal use of natural resources. Through innovative production technology and logistics, Hofseth BioCare is able to preserve the quality of protein, calcium and oil extracted from fish off-cuts. Products that previously could only be used as animal feed can now be made suitable for human consumption. HBCs objective is thus to contribute to efficient use of marine resources and entering the higher profit market of quality ingredients for human applications.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.