GLG Life Tech Corporation Announces Progress On The Development Of The Healthy Sugar Market In China
VANCOUVER, B.C., March 29, 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 and all natural and zero calorie food and beverage products, is pleased to announce an update on the progress of the development of the healthy sugar market opportunity in China.
The Company is pleased to announce that Fengyang Xiaogangcun Υongkang Foods High Tech Co. Ltd (FXY) has started to develop the production capacity necessary to support the supply of one million metric tons capacity of low calorie sugar (LCS) for the Chinese sweetener market including the China Sugar Reserve's requirements. FXY has recently started the construction of an additional 10,000 metric tons LCS production facility in Xiaogang and this facility is expected to be completed in September 2011.
The LCS formulation will be one third the calories or two-thirds calorie reduction from regular sugar using GLG's BlendSure TM stevia extract product and FXY has developed all required know how technologies and are in the process of applying for a China patent for these technologies for the production of low calorie sugar.Dr. Luke Zhang, Chairman and CEO of GLG, said, "We are very pleased with the progress FXY has made in developing the low calorie sugar opportunity in China. This product will further improve the development of healthier food and beverages in China which is a key to combat the high rates of obesity and diabetes in China. We are proud to see BlendSure selected as the high purity stevia extract to be used for FXY's LCS product. The LCS product will also be useful to China since it reduces the amount of sugar by two-thirds and leverages the strength China has with the stevia crop. Stevia requires one thirteenth the agriculture footprint and stevia farmers earn two to three times the income growing stevia instead of other crops."
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