GLG Life Tech Corporation Announces ANOC(TM) Joint Venture Progress Update -- ANOC China Operational And Key Executives Announced
VANCOUVER, British Columbia, Jan. 25, 2011 (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 a progress update on its China consumer products joint venture ANOC TM.
The registration for the ANOC TM China operation has now been completed. "ANOC TM Anhui" has now been formally registered and has received a national business license for its business activities that include research and development, production, marketing and sales. The license will allow ANOC TM to operate its business nationally which facilitates the targeted product rollout in key cities throughout China in comparison to a more time consuming approach applying for regionally registered companies. In addition to this important milestone in the company's start-up phase, the Company is also announcing the formal appointment of six senior executives with ANOC TM China. The senior executive team will be based in Shanghai.
GLG Chairman and CEO Dr. Luke Zhang stated, "This is the first important milestone to get ANOC TM officially operational in China and to facilitate our ANOC TM product launch in 2011 and I am pleased to report the transfer of some of the senior team from our joint venture partner, China Agriculture and Healthy Foods Company Limited ("CAHFC") is now complete as well as the recent recruitment of additional executives into ANOC TM to formally commence our operations. I believe the senior executive team that we have recruited from leading food and beverage companies brings a wealth of knowledge and experience that will be a key factor in our future success. I am very excited to be working with such a high caliber team of senior executives."New Senior Executives for ANOC TM China Vice President of R&D and Formulation – Mr. Chen Tzyh Chen Mr. Chen comes to ANOC TM with over 32 years of consumer beverage and food formulation experience. He is responsible for developing many leading food and beverage products in Asian markets including China and Japan. Mr. Chen has held senior positions with President Enterprises Corporation as well as serving as a leading formulation consultant to many food and beverage companies in Asia. Mr. Chen stated, "I am very happy to be joining ANOC TM and bring great tasting all natural zero calorie products to the China market. I know the Chinese beverage market very well and the ANOC TM products are formulated to meet the tastes and demands of this market while at the same time providing healthier products to Chinese consumers." Vice President of Marketing – Mr. Cheng Yin-Chieh Mr. Cheng has over 26 years marketing experience in consumer beverage and food including branding and product marketing in China including Hong Kong and Taiwan. Mr. Cheng has held senior positions with Master Kong Beverage Corporation, President Enterprises Corporation and Brain Advertising.
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