GLG Life Tech Corporation Announces AN0C(TM) Joint Venture Progress Update
VANCOUVER, British Columbia, March 15, 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 joint venture AN0C. The Company is pleased to announce that AN0C TM management has selected the Hon Chuan Group as its OEM partner for its bottling and servicing needs for AN0C TM beverage products. Hon Chuan will provide additional anticipated bottling capacity to that already provided through China and Healthy Foods Company Limited (CAHFC) at its Xioagang facility.
The Hon Chuan Group is a leading OEM bottling and servicing organization with headquarters in Taiwan and operations in Mainland China since 1993. At present Hon Chuan has become the leading OEM company serving many multinational companies and has set up 16 production bases in locations such as Jiangsu, Hunan, Shandong, Shanxi, Guangdong, Zhejiang, Gansu, Jilin, Henan, Yunnan, Shanxi and Shanghai, Tianjin in Mainland China. Hon Chuan will supply AN0C with all required services for beverage filling as well as logistic support to delivery of product to AN0C's distributors across China. Hon Chuan customers include many leading Chinese and global beverage companies and all facilities are certified ISO-9001, ISO-14000 and HACCP as well as QS approved by the government.
GLG Chairman and CEO Dr. Luke Zhang stated, "The contract with Hon Chuan secures all additional capacity we anticipate needing to support projected 2011 sales. We have decided to partner with high quality and experienced OEM services in China such as Hon Chuan and Xiaogang not only to meet the demands of our rapid market development, but also to avoid high capital investments in production facilities. Hon Chuan has an excellent reputation for delivering bottling and logistical support services to their customers and we are pleased to have them as a valued partner in producing and delivering AN0C's products to the China market nationwide."
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