This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

GLG Life Tech Corporation Announces Commencement Of ANOC Beverage Production Line In China

VANCOUVER, British Columbia, Dec. 22, 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 the commencement of production of four beverage products by its joint venture partner China and Healthy Foods Company Limited (CAHFC) for the ANOC TM business in China.

The production line was constructed during the third quarter at CAHFC's Xioagang facility and is capable of producing 108 million 500ml servings per year. The new facility will initially produce four beverage products: Green Tea, Black Tea, Peach Juice and Orange Juice. All products are part of the new ANOC TM product line and are sweetened with stevia. The grand opening ceremony for this new line took place on December 17, 2010 with a strong showing of local and provincial Government officials. Most notably, Vice Governor Honorable Mr. Zhao, Shucong and Party Secretary of Chuzhou City Honorable Mr. Han, Xiancong of the Anhui Province attended the ceremony and were present to receive the first bottle of ANOC TM beverage from the new production line. One of the key government objectives is to demonstrate that a rural farming region such as Xioagang can not only support strong farming economy but also industrial development that will further increase the economic prosperity for a rural region. Xioagang is demonstrating this through stevia farming and the use of stevia extracts in consumer products also produced in the Xioagang region. The Xioagang example is expected to be a model for other China rural areas to follow.

GLG Chairman and CEO Dr. Luke Zhang stated, "The grand opening of this new facility marks an important milestone for the ANOC joint venture. We can now develop the inventory necessary for our first ANOC TM beverage product launch in 2011. GLG and CAHFC control every step now from seed to shelf for consumer products including quality control and product formulation. We are proud of our partner's achievement and we can now focus on the rollout of our first four beverage products in the first quarter of 2011. GLG also recognizes CAHFC's achievement towards the development of value added industry in the Xioagang region to the stevia crop grown in Xioagang."

Mr. Song Xiankun, Chairman and President of CAHFC said, "We are extremely pleased with the commencement of beverage production at our Xioagang facility. This is the first all natural and zero calorie beverage production line in China and this line can produce a full range of ANOC TM beverages including iced tea, juice, vitamin water, sports water and dairy drinks. We have developed over 30 different ANOC TM beverage formulas and all have received great responses in our market research. With this first ANOC TMbeverage line starting production, the joint venture will be able to launch ANOC TMiced tea and juice soon and become the first company to market all natural and zero calorie beverages in China. We have had strong support from the local and provincial government to ensure a timely development of this facility. We recognize that we are also supporting the development of the Xioagang region by bringing value-added manufacturing and jobs to this region which demonstrates that when industry and government work together in rural agricultural areas, we can bring more prosperity to industry and the people of Xioagang."

China's food and beverage industry has experienced a more than 20% annual growth rate from 2002 to 2009 with the industry growing from approximately RMB900 billion to RMB4.7 trillion (US$ 693 billion) in 2009. As China's middle class continues to develop, this is expected to fuel consumption growth in the China beverage and food industry. The Freedonia Group estimates that the China beverage market will grow from 105,750 million liters in 2007 to 199,500 million liters in 2017.  

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs