http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=10908186
PURECIRCLE LIMITED
("PureCircle" or the "Company")
PureCircle Announces Global Distribution Agreement with Firmenich for Breakthrough Natural Flavor, NSF-02
PureCircle (LSE:PURE), the world's leading developer, producer and marketer of high purity stevia ingredients, announces today a multi-year global distribution agreement with Firmenich, the world's largest privately-owned fragrance and flavor company, to accelerate the commercialization of the company's new breakthrough natural flavor, NSF-02.
Earlier this month, PureCircle announced the launch of its new PureCircle Flavors product line including NSF-02.
http://www.purecircle.com/news/general-news/...atural-flavor-modifier
NSF-02 is designed specifically to work well in combination with PureCircle's high purity stevia sweeteners, Reb A and SG-95, and sugar or high fructose corn syrup, enhancing flavor, sweetness and taste of food and beverages. The flavor modifier, in combination with PureCircle's high purity stevia sweeteners, delivers a range of better tasting, low cost, natural product formulations, with reduced calories.
Under the agreement, Firmenich will have exclusive rights to commercialize NSF-02 both as a stand-alone ingredient and within the company's flavor systems. PureCircle will retain rights to distribute directly in select accounts. Also, as part of the agreement the two companies will further collaborate on marketing and regulatory activities that will accelerate the adoption of the new flavor modifier across global markets, beyond the US where NSF-02 has FEMA GRAS status.
Commenting on the collaboration, Magomet Malsagov, Chief Executive Officer of PureCircle, said:
"Globally, we continue to see great momentum toward natural reduced calorie formulations. We recognize the importance of continuous innovation to ensure we provide our customers' advantages as they launch new products and reformulate existing ones. Combining PureCircle's flavor innovation and stevia portfolio with Firmenich's world class expertise in incorporating sweetness enhancement and flavor masking ingredients will accelerate the adoption of our new innovation globally."
Patrick Firmenich, Chief Executive Officer of Firmenich, added:
"As an industry leader in research and innovation, we are committed to helping our client's improve the nutritional profile of their products without compromising on taste. Building on our earlier stevia sweetener partnership with PureCircle, we continue the pursuit breakthrough flavor solutions that fulfill the desires of consumers around the world, who are looking for great tasting, low sugar, low calorie foods and beverages."
Enquiries: |
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PureCircle Limited (www.purecircle.com) | |
Magomet Malsagov, CEO | +60 1 2388 8049 |
William Mitchell, CFO | +44 7974 005 163 |
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RFC Corporate Finance (NOMAD) | +61 8 9480 2500 |
Steve Allen |
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About PureCircle
PureCircle (www.purecircle.com) is the global leader in the production of high purity stevia products. PureCircle is leading the industry with the development of a strong sustainable natural supply chain. Stevia is now being grown for PureCircle in more than 15 countries across South America, Africa, Asia, and the United States; it provides a sustainable cash crop for rural farming communities in each region. As part of its leadership of the stevia industry, PureCircle has pioneered the industry trust mark Stevia PureCircle that educates consumers about the benefits of stevia and provides a strong base of trust for both consumers and Food & Beverage companies alike. PureCircle's global headquarters are in Kuala Lumpur, Malaysia. PureCircle shares are traded on the LSE AiM index.
About Firmenich
Firmenich is the largest privately-owned company (No.2 worldwide) in the perfume and flavor business. Swiss, family-owned and founded in Geneva in 1895, it has created many of the world's best-known perfumes and flavors that you enjoy each day. Its passion for smell and taste is at the heart of its success. It is renowned for its creativity and innovation, as well as its exceptional understanding of consumer trends. Every year, it invests around 10% of its turnover in R&D, reflecting its continued desire to understand, share and sublimate the best that nature has to offer. Firmenich had an annual turnover of 2.873 billion Swiss Francs at end June 2010. More information about Firmenich is available at www.firmenich.com
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