GLG Announces Distribution Agreement Signed with Sugar Australia
Sugar Australia has chosen to partner with GLG in the food and beverage sector to bring a new and exciting range of stevia ingredients as part of our range of sweetener solutions, particularly as manufactures seek alternatives in developing healthier products that meet consumers’ changing needs.
14 Jul 2010 --- GLG Life Tech Corporation, a vertically-integrated leader in the agricultural and commercial development of high quality stevia, announces the signing of a five-year agreement with Sugar Australia for the distribution and marketing of GLG’s stevia extract products. The companies are working in partnership to market stevia and its use as an ingredient to the food and beverage sector in Australia and New Zealand.
Key highlights under the terms of this agreement include:
* Initial term of five years with an automatic renewal provision for another five years subject to certain conditions
* Mutual exclusivity between the two companies based on successful achievement of agreed GLG product purchases levels, which will be established by mutual agreement year by year
* Marketing support, as well as sales and technical training, to be provided by GLG to Sugar Australia
* Sugar Australia to market GLG’s full line of products within their serving territory including Rebpure, Rebsweet, and the BlendSure product line
Dr. Luke Zhang, CEO of GLG stated, “As the global market for stevia continues to grow and food and beverage companies realize the power available through stevia-based sweetening systems to affect change and offer reduced-calorie, better-for-you product choices for the consumer, GLG has chosen to partner with several market leaders such as Sugar Australia with whom we believe we can work to effectively reach consumers and to market what we believe to be the highest quality, best tasting stevia extracts at a great value and competitive price structure.”
Ian Glasson, CEO of Sucrogen, said, “Sugar Australia has chosen to partner with GLG in the food and beverage sector to bring a new and exciting range of stevia ingredients as part of our range of sweetener solutions, particularly as manufactures seek alternatives in developing healthier products that meet consumers’ changing needs.”
