LAYN USA Announces Agreement Milestones Reached For Contract Manufacturing Of Cargill's Truvia® Stevia Leaf Extract Ingredients
NEWPORT BEACH, Calif., April 2, 2013 /PRNewswire/ -- LAYN USA, a subsidiary of Guilin LAYN Natural Ingredients Corp., today announced that the parties have met the volume and revenue milestones set forth in its agreement with Cargill's Truvia ® business for contract manufacturing Cargill's stevia leaf-based sweetener ingredients.
Under terms of the agreement, initiated in November 2011, LAYN is Cargill's exclusive partner for contract manufacturing stevia ingredients in China for use in Truvia ® sweetener ingredient and consumer products.
"We're thrilled to maintain the agreement with Cargill specific to our stevia line of ingredients," said Chris Tower, president of LAYN USA, Inc. "The relationship has been a success and all agreement milestones were exceeded in 2012. The collaboration remains vibrant for 2013 and beyond."
LAYN USA and Cargill are on pace to meet milestone expectations for 2013."LAYN continues to meet and deliver on Cargill's rigorous safety and quality requirements for production, allowing us to meet the standards of our largest multinational customers," said Scott Fabro, global business development manager for Cargill's health ingredients. "This partnership supports Cargill's objective of providing a broad range of sweetener options for food and beverage makers and consumers globally." About LAYN USA, Inc. LAYN USA, Inc. is a subsidiary of Guilin LAYN Natural Ingredients Corp., a company focused on the identification, development and production of active botanical principles exhibiting functional health benefits for the food, beverage, nutraceutical and personal care industries. A major focus for LAYN is natural sweeteners where it is vertically integrated and capable of large-scale production for both stevia and monk fruit ingredient lines. LAYN sells its monk fruit product line under the Go-Luo ® brand derived from the Chinese name of the fruit "Luo Han Guo". Both of LAYN's stevia and monk fruit ingredients have secured GRAS published status on the Food & Drug Administration (FDA) GRAS Notice Inventory. Guilin LAYN is listed on the Shenzhen Stock Exchange as stock symbol 002166. For more information, visit LAYN at www.layncorp.com. About Cargill Cargill is an international producer and marketer of food, agricultural, financial and industrial products and services. Founded in 1865, the privately held company employs 142,000 people in 65 countries. Cargill helps customers succeed through collaboration and innovation, and is committed to sharing its global knowledge and experience to help meet economic, environmental and social challenges wherever it does business. For more information, visit www.cargill.com. SOURCE LAYN USA, Inc.
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