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"This marks another important milestone for GLG," commented Dr. Luke Zhang, Chairman and CEO. "GLG's first priority is to continually satisfy our strategic alliance partner's increased need for high purity stevia extract. Now with the addition of these three senior level marketing and sales veterans, we will be able to further expand our direct sales capabilities to the growing global market for stevia."
A 30 year veteran of the food and beverage industry, Alan Martin has held senior sales and business development roles at The Dr. Pepper Company where he led both regional and national sales teams working at all levels of trade. Among his many accomplishments, Mr. Martin has demonstrated consistent sales leadership and a track record of positive results.
Jack Tokarczyk has more than 20 years experience in the soft drink industry including sales, operations and management responsibilities for PepsiCo, Dr Pepper/Seven-Up Inc, Royal Crown Cola and beverage equipment manufactures. Mr. Tokarczyk has driven high-level operational and process improvements and understands corporate needs in today's market.
James Kempland will lead the strategic marketing division for GLG and brings a diversity of experience in high intensity sweeteners, agriculture and supply as well as marketing for consumer package goods with firms such as Monsanto, NutraSweet, Kraft, Proctor & Gamble and other leading firms within the beverage industry.
"The vast knowledge of the beverage industry and sales expertise these three executives bring to GLG will be an asset for continued growth and profitability as GLG seeks to strengthen its rebiana sales in the global marketplace," states Dr. Zhang.
About GLG Life Tech Corporation
GLG Life Tech Corporation is a global leader in the supply of high purity stevia, an all natural, zero-calorie sweetener used in food and beverages. The Company's 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. GLG advanced technology and extraction technique make it one of the world's leading producers of high purity stevia extracts, including rebiana made with 97% Rebaudioside A. Rebiana recently received GRAS status in the United States for use in food and beverages. The Company has operations in Canada as well as agricultural and processing facilities in China in the provinces of Anhui, Jiangsu, Shandong and Heilongjiang. China is responsible for an estimated 85% of the world's current stevia production. GLG stevia processing capabilities include 41,000 metric tons of raw stevia leaf and 1,000 metric tons of high-grade stevia extract. The Company holds a strategic partnership and preferred supplier agreement with Cargill, Incorporated to supply 80% of its global stevia extract demand and 100% of any stevia sourced from China. In addition, the Company's global sales and marketing arm, GLG-Weider Sweet Naturals, works with companies around the world to bring stevia extract supply solutions for food, beverage, pharmaceutical and nutraceutical applications.
Forward-looking statements: Certain statements in this press release constitute "forward-looking statements". Such forward-looking statements include, without limitation, statements evaluating the market for stevia, statements predicting the Company's future financial performance, the Company's production capacity, demand for stevia and the Company's stevia based products and general economic conditions. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include operational risks, the effects of general economic conditions, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations, industry supply levels, competitive pricing pressures and other risks and uncertainties disclosed under the heading "Risk Factors" in our Annual Information Form in respect of our year-ended December 31, 2008 and the risk factors in our Management's Discussion and Analysis ("MD&A") for the year ended December 31, 2008 and for the interim period ending June 30, 2009, all of which are available on SEDAR at www.sedar.com. The Company's forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made. The Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change, except as required by law. Financial outlook information contained in this press release about prospective results of operations, capital expenditures or financial position is based on assumptions about future events, including economic conditions and proposed courses of action, based on management's assessment of the relevant information as of the date hereof. Such financial outlook information should not be used for purposes other than those for which it is disclosed herein.
SOURCE: GLG Life Tech Corporation
GLG Life Tech Corporation Brian Meadows Chief Financial Officer +1 (604) 641-1368 +1 (604) 844-2830 (FAX) ir@glglifetech.com
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