Mannatech, Incorporated (NASDAQ: MTEX), the leading innovator and provider of nutritional supplements based on Real Food Technology® solutions, announced today the initiation of order shipments into Hong Kong from its existing Taiwan operation. Implementation is planned to be completed by the end of 2012.
This step serves as Mannatech’s first toward a formal opening of the Hong Kong market. While dates for opening have not yet been set, this newest development exhibits Mannatech’s strategic commitment to international growth. According to the World Federation of Direct Selling Associations, 2011 retail sales in Hong Kong from direct sales companies reached $406 million in U.S. currency, with more than 155,000 identified independent distributors.
“We are excited about both the short-term potential of this new cross-border strategy and the long-term possibilities of the Hong Kong market for Mannatech,” said Dr. Robert Sinnott, Mannatech’s CEO and Chief Science Officer. “Our goal is to nourish the world with Mannatech’s Real Food Technology supplementation, and to expand the reach of our global seamless compensation plan for those who choose to champion our cause. Expanding into this emerging Asian market is a promising and exciting step for our company’s future.”
Al Bala, Executive Vice President of Global Sales & Marketing, added, “We’re not just excited about the opening of this new market, but also what it means for our existing markets. For example, we’ve seen impressive, ongoing growth from our North American Chinese base of Associates. Creating this opportunity in Hong Kong should only further support their efforts in building a global business with Mannatech.”Individuals interested in Mannatech’s products or exploring its business opportunity are encouraged to learn more at Mannatech.com. About Mannatech Mannatech, Incorporated, develops high-quality health, weight and fitness, and skin care products that are based on the solid foundation of nutritional science and development standards. Mannatech is dedicated to its platform of Social Entrepreneurship based on the foundation of promoting, aiding and optimizing nutrition where it is needed most around the world. Mannatech’s proprietary products are available through independent sales Associates around the globe including the United States, Canada, South Africa, Namibia, Australia, New Zealand, Austria, Denmark, Germany, Norway, Sweden, the Netherlands, the United Kingdom, Japan, Taiwan, Singapore, Estonia, Finland, the Republic of Ireland, Czech Republic, the Republic of Korea and Mexico. For more information, visit Mannatech.com. Please note: This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by use of phrases or terminology such as “intend” or other similar words or the negative of such terminology. Similarly, descriptions of Mannatech’s objectives, strategies, plans, goals or targets contained herein are also considered forward-looking statements. Mannatech believes this release should be read in conjunction with all of its filings with the United States Securities and Exchange Commission and cautions its readers that these forward-looking statements are subject to certain events, risks, uncertainties and other factors. Some of these factors include, among others, Mannatech’s inability to attract and retain Associates and Members, increases in competition, litigation, regulatory changes and its planned growth into new international markets. Although Mannatech believes that the expectations, statements and assumptions reflected in these forward-looking statements are reasonable, it cautions readers to always consider all of the risk factors and any other cautionary statements carefully in evaluating each forward-looking statement in this release, as well as those set forth in its latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and other filings filed with the United States Securities and Exchange Commission, including its current reports on Form 8-K. All of the forward-looking statements contained herein speak only as of the date of this release.
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