, a maker of nutritional oils and supplements, said it entered into a license and supply agreement with South Korean infant formula company
Namyang Dairy Products
Under the pact, Namyang Dairy Products can use Martek's products, docosahexaenoic acid and arachidonic acid in infant formula sold in South Korea.
Martek manufactures nutritional oils that contain the long-chain polyunsaturated fatty acids, DHA and ARA, both of which are naturally present in breast milk.
"This agreement is yet another example of how formula manufacturers worldwide are recognizing the benefits of adding DHA and ARA to formula, both for their business and the infants they serve," the Columbia, Md.-based company said.
Martek shares closed Wednesday's session down 2 cents at $27.97.
This story was created through a joint venture between TheStreet.com and IRIS.