VANCOUVER, British Columbia, Dec. 14, 2010 (GLOBE NEWSWIRE) -- GLG Life Tech Corporation (Nasdaq:GLGL) (TSX:GLG) ("GLG" or the "Company"), the vertically-integrated leader in the agricultural and commercial development of high quality stevia, announces that is has entered into a joint venture agreement with China Agriculture and Healthy Foods Company Limited (CAHFC) for the sale and distribution of zero calorie beverage and food products in China that are sweetened with GLG's stevia extract products. The new venture will be called Dr. Zhang's All Natural and Zero Calorie Beverage and Foods Company (ANOC). ANOC will focus on the development of the all natural zero calorie brand of food and beverages (ANOC TM) and the establishment of sales and distribution of the ANOC TM products nationally in China. GLG will hold an 80% controlling stake in ANOC and CAHFC will hold 20%. Dr. Luke Zhang will be the CEO of ANOC and will be supported by an experienced team of senior executives recruited by CAHFC from the beverage industry in China. The Company will hold a conference call Tuesday, December 14 th, 10 am EST to review the new venture.
GLG Life Tech Corporation Announces Joint Venture In China's Growing Food And Beverage Market
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