REG-PureCircle Limited Completion of Extract Plant C
27.04.2009com:20090427:Rnsa1870R
.
RNS Number : 1870R
PureCircle Limited
27 April 2009
PureCircle Limited
("PureCircle" or "the Company")
Successful Completion of World's largest Stevia Extract Plant Expansion
London: 27 April 2009
PureCircle (LSE:PURE), the world's leading producer of Natural High Intensity
Sweeteners, including Reb A ('NHIS'), is pleased to announce that it has
successfully completed on schedule the major expansion of its extraction plant
complex in Jiangxi province, south eastern China.
The upgrade programme, which included the quadrupling of stevia extract capacity
from 1,000 Metric Tonnes per annum to 4,000 Metric Tonnes per annum, ensures
that the Jiangxi plant continues, by some distance, to be the largest stevia
extract factory in the world.
The expansion also incorporates next generation process improvements that will
further enhance the environmental efficiency of the high purity Reb A global
supply chain and deliver major productivity benefits to PureCircle.
Specifically the expansion and upgrade programme covers a 20 hectare site and
includes:
- Extensive water re-cycling and treatment facilities to ensure
that all water used in the stevia extract
processes will be returned to the environment in the same good
quality it was initially consumed;
- Major new warehousing to part accommodate the stevia leaf
throughput of over 50,000 metric tonnes a
year needed to run the factory to capacity
- A purpose built, state of the art, bio-mass energy facility that
will convert a high proportion of the waste leaf
into a natural source of electricity for the local community
- An additional factory that converts all residual leaf waste into
natural animal food and fertiliser products.
- Extra land area for future capacity expansion.
Within the larger new stevia extract factory are numerous process improvements
that build on PureCircle's global leadership in this field. Management believe
that PureCircle's combination of scale and process leadership enable PureCircle
to be the industry low cost supplier globally.
In addition the project incorporates new housing facilities for 400 employees,
providing further benefits to the local community.
Overall the expansion programme has taken almost two years to complete and has
cost US $32m. This is in line with the project plans and has been funded fully
from internal resources, which is a measure of the strength of the PureCircle
balance sheet.
Separately, the doubling of the Group's annual high purity Reb A refining
capacity from 1,000 Metric Tonnes to 2,000 Metric Tonnes at its state-of-the-art
refinery in Malaysia is progressing on schedule and is expected to be completed
by the end of the calendar year.
Magomet Malsogov, Managing Director, of PureCircle, commented:
"The major expansions at both our stevia extract complex and our high purity Reb
A refinery provides considerable additional capacity to meet the fast growing
demand from our customers. The expansion also further consolidates our global
leadership in the industry. We are the world's low cost producer and our
technologies enable us to produce in the most environmentally efficient
manner."
ENDS
Enquiries:
PureCircle
Magomet Malsogov, Managing Director Tel: +601 2388 8049
William Mitchell, Finance Director Tel: +44 7974 005 163
College Hill Tel: +44 20 74572020
Mark Garraway / Adam Aljewicz
RFC Corporate Finance (NOMAD) Tel: +61 8 9480 2500
Steve Allen
For further information please visit the company website: www.purecircle.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCSESSMWSUSESL
Expand
Collapse
.
RNS Number : 1870R
PureCircle Limited
27 April 2009
PureCircle Limited
("PureCircle" or "the Company")
Successful Completion of World's largest Stevia Extract Plant Expansion
London: 27 April 2009
PureCircle (LSE:PURE), the world's leading producer of Natural High Intensity
Sweeteners, including Reb A ('NHIS'), is pleased to announce that it has
successfully completed on schedule the major expansion of its extraction plant
complex in Jiangxi province, south eastern China.
The upgrade programme, which included the quadrupling of stevia extract capacity
from 1,000 Metric Tonnes per annum to 4,000 Metric Tonnes per annum, ensures
that the Jiangxi plant continues, by some distance, to be the largest stevia
extract factory in the world.
The expansion also incorporates next generation process improvements that will
further enhance the environmental efficiency of the high purity Reb A global
supply chain and deliver major productivity benefits to PureCircle.
Specifically the expansion and upgrade programme covers a 20 hectare site and
includes:
- Extensive water re-cycling and treatment facilities to ensure
that all water used in the stevia extract
processes will be returned to the environment in the same good
quality it was initially consumed;
- Major new warehousing to part accommodate the stevia leaf
throughput of over 50,000 metric tonnes a
year needed to run the factory to capacity
- A purpose built, state of the art, bio-mass energy facility that
will convert a high proportion of the waste leaf
into a natural source of electricity for the local community
- An additional factory that converts all residual leaf waste into
natural animal food and fertiliser products.
- Extra land area for future capacity expansion.
Within the larger new stevia extract factory are numerous process improvements
that build on PureCircle's global leadership in this field. Management believe
that PureCircle's combination of scale and process leadership enable PureCircle
to be the industry low cost supplier globally.
In addition the project incorporates new housing facilities for 400 employees,
providing further benefits to the local community.
Overall the expansion programme has taken almost two years to complete and has
cost US $32m. This is in line with the project plans and has been funded fully
from internal resources, which is a measure of the strength of the PureCircle
balance sheet.
Separately, the doubling of the Group's annual high purity Reb A refining
capacity from 1,000 Metric Tonnes to 2,000 Metric Tonnes at its state-of-the-art
refinery in Malaysia is progressing on schedule and is expected to be completed
by the end of the calendar year.
Magomet Malsogov, Managing Director, of PureCircle, commented:
"The major expansions at both our stevia extract complex and our high purity Reb
A refinery provides considerable additional capacity to meet the fast growing
demand from our customers. The expansion also further consolidates our global
leadership in the industry. We are the world's low cost producer and our
technologies enable us to produce in the most environmentally efficient
manner."
ENDS
Enquiries:
PureCircle
Magomet Malsogov, Managing Director Tel: +601 2388 8049
William Mitchell, Finance Director Tel: +44 7974 005 163
College Hill Tel: +44 20 74572020
Mark Garraway / Adam Aljewicz
RFC Corporate Finance (NOMAD) Tel: +61 8 9480 2500
Steve Allen
For further information please visit the company website: www.purecircle.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCSESSMWSUSESL
REG-PureCircle Limited Dealings in Shares
01.04.2009com:20090401:RnsA8897P
.
RNS Number : 8897P
PureCircle Limited
01 April 2009
PureCircle Limited
("PureCircle" or "the Company")
Dealings in shares
PureCircle has been notified of the following purchase of shares by a Director
on 31 March 2009
Director Number of shares purchased Price per share
Mr Lai Hock Meng 100,000 £1.92
1 April 2009
Enquiries
RFC, NOMAD to PureCircle +61 8 9480 2507
Steve Allen
College Hill +44 20 7457 2020
Mark Garraway
This information is provided by RNS
The company news service from the London Stock Exchange
END
RDSGUGDSIUGGGCB
Expand
Collapse
.
RNS Number : 8897P
PureCircle Limited
01 April 2009
PureCircle Limited
("PureCircle" or "the Company")
Dealings in shares
PureCircle has been notified of the following purchase of shares by a Director
on 31 March 2009
Director Number of shares purchased Price per share
Mr Lai Hock Meng 100,000 £1.92
1 April 2009
Enquiries
RFC, NOMAD to PureCircle +61 8 9480 2507
Steve Allen
College Hill +44 20 7457 2020
Mark Garraway
This information is provided by RNS
The company news service from the London Stock Exchange
END
RDSGUGDSIUGGGCB
REG-PureCircle Limited Director's Dealing
05.03.2009com:20090305:RnsE3639O
.
RNS Number : 3639O
PureCircle Limited
05 March 2009
PureCircle Limited
("PureCircle" or "the Company")
Dealings in shares
PureCircle has been notified of the following purchase of shares by a Director
on 4 March 2009 after the Company's announcement of same date:
Director Number of shares purchased Price per share
Mr Olivier Maes 2,647 £1.656
5 March 2009
Enquiries
RFC, NOMAD to PureCircle +61 8 9480 2507
Steve Allen
College Hill +44 20 7457 2020
Mark Garraway
This information is provided by RNS
The company news service from the London Stock Exchange
END
RDSGCGDXCBGGGCU
Expand
Collapse
.
RNS Number : 3639O
PureCircle Limited
05 March 2009
PureCircle Limited
("PureCircle" or "the Company")
Dealings in shares
PureCircle has been notified of the following purchase of shares by a Director
on 4 March 2009 after the Company's announcement of same date:
Director Number of shares purchased Price per share
Mr Olivier Maes 2,647 £1.656
5 March 2009
Enquiries
RFC, NOMAD to PureCircle +61 8 9480 2507
Steve Allen
College Hill +44 20 7457 2020
Mark Garraway
This information is provided by RNS
The company news service from the London Stock Exchange
END
RDSGCGDXCBGGGCU
REG-PureCircle Limited Half Yearly Report
04.03.2009com:20090304:RnsD2693O
.
RNS Number : 2693O
PureCircle Limited
04 March 2009
PURECIRCLE LIMITED
("PureCircle" or "the Company")
Half yearly report for the six months ended 31 December 2008
PureCircle (www.purecircle.com), the world's leading producer of Natural High
Intensity Sweeteners, including Reb A ('NHIS'), today announces results for the
six months ended 31 December 2008.
IN JUST SIX MONTHS
Global brand launches using PureCircle's Reb A confirm $10 billion market taking
off
* Regulatory approvals around the world
* Australia, New Zealand, Switzerland, US FDA...Europe expected to follow
* Global brands launched with Reb A
* PepsiCo (Sobe LifeWater, Tropicana Juice)The Coca-Cola Company (Sprite Green,
Vitaminwater, Odwalla)Whole Earth (PureVia table-top)Cargill (Truvia table-top)
* Unprecedented rate of new product launches in just months since regulatory
clearances
* Strong consumer pull-through indicates growing market demand
PureCircle is the clear industry leader in this fast-growth market
* Q2: 9threcord production quarter in last 12 quarters
* Q2 production exceeded annual rate of 300MT (Q2 FY 2008 90MT)
* On track for Q4 annual rate of 700MT (Q4 FY 2008 200MT)
* Multi-year, multi-$m contracts secured with Pepsico, Whole Earth, Cargill
* Exclusive PureVia brand marketing & supply contracts signed
* Strategic partnership agreed with Firmenich
Scaling-up the business to meet demand and maintain market leading position now
key priority
* Expectation that customers will launch a succession of products using NHIS
* Focus will be on ensuring that PureCircle remains the market's supplier
partner of choice
* Scaling business in line with industry demand2,000 MT refinery by end
20094,000 MT extraction plant on stream April 2009Leaf supply secured
* Worldwide footprint in place to support global customers
SUMMARY FINANCIALS
Six months ended 31 December (US$m) 2008 2007 % growth FY 2009
(H1 FY 2009) (H1 FY 2008) vs FY 2008
Revenue 21.6 14.5* 49%
Gross Profit 8.6 4.5 91%
Net Profit after tax and minority 2.0 1.2 75%
*Included $5m of crude stevia sales now discontinued: like for like sales growth
is 127%
* Achieved Budget and strong growth against FY 2008 across all key performance
measures
Paul Selway-Swift, Chairman of PureCircle, commented:
"We are pleased to report a strong first half performance. The Company achieved
its budget targets and recorded significant growth in all key targets compared
to a year ago.
Events are moving on at a pace in the wider market. With widespread regulatory
clearances and many major product launches, it is clear that this is going to be
a large global industry.
PureCircle is the undisputed market leader. We are demonstrably scaling our
business rapidly and we have robust plans in place to keep doing so.
This is an exciting time for PureCircle. As with all businesses, challenges
remain but we look forward to reporting on further progress."
4 March 2009
Enquiries
PureCircle Limited
Magomet Malsagov, Managing Director +60 1 23888049
William Mitchell, Finance Director +44 7974 005 163
CollegeHill +44 20 7457 2020
Mark Garraway
Adam Aljewicz
RFC Corporate Finance Ltd +61 8 9480 2500
Stephen Allen
Chairman's & Chief Executive's Statement
Overview
We are pleased to present the first half year results for financial year ending
30 June 2009 (FY2009) covering the period from 1 July 2008 to 31 December 2008.
This is an exciting new industry with significant growth potential. Moreover,
PureCircle is the clear leader in developing the industry. At the time of our
IPO in December 2007, we identified a number of hurdles that needed to be
overcome if the industry were to take off. These were:
* regulatory clearances product launches by major F&B producersconsumer
pull-throughthe ability to successfully scale-up the business
During the period, regulatory clearances were received in substantially all key
markets culminating in the FDA's approval of Reb A in December, and we
immediately saw a rapid launch of major global brands by F&B companies. With
consumer pull-through on the back of these launches, we expect to see the rate
of new product launches gathering momentum.
With the market firmly established, our priority now is to ensure that we
successfully scale-up the business to meet the expected demand and to ensure
that we maintain our industry leading position.
Results
The first half FY 2009 saw a strong performance. The Group achieved its budget
targets and recorded significant growth compared to FY 2008 across all our key
performance indicators.
Revenues were up by 49% to US$21.6 million (H1 FY2008: $14.5 million) reflecting
increasing demand for our natural sweeteners. FY2008 sales included US$5 million
of crude stevia extract sales in China now discontinued, therefore underlying
sales growth was over 127%. Reb-A volumes were up over 125% at 95 MT (H1 FY2008:
42 MT). This compares to 115 MT sold in the whole of FY2008.
With four months of the FY to run, the Group has 250 MT contracted being just
over two thirds of the projected FY 2009 total. The Group is focused on securing
the remaining 100MT.
The Group's long-term sales strategy is to secure a widely diversified customer
base. Since 1 July 2008, the Group has started trading a number of multi-year
non-exclusive contracts with major F&B companies including PepsiCo, Whole Earth
and Cargill.
Gross margins improved 9 percentage points from 31% to 40% but, with projected
volumes for FY2009 running at just 17.5% of December 2009 refinery capacity, the
Group has significant potential to improve margins further as refining
throughput increases and the Group reaps the benefits of economies of scale.
The Group has a robust balance sheet with net assets of US$86.0 million and a
strong cash position of US$27.3 million.
While the Company is growing its business, the Board deems working capital to be
a priority. The Company will not be paying an interim dividend. This will be
reviewed in the future in light of the Group's progress and funding
requirements.
Business Review
The period saw a number of exciting market and business developments. In summary
there is undeniably now a global market for NHIS and PureCircle is the
undisputed market leader.
Regulatory Approval and Product Launches
In December 2008 the US Food & Drug Administration ('FDA') gave Generally
Recognised As Safe ('GRAS') clearance for high purity (97%) Reb-A.
Within days of the FDA's approval, early adopter F&B producers were unveiling
plans for major brand launches into the US market. Product launches have so far
included SoBe LifeWater and Tropicana Juice drinks by PepsiCo, Sprite Green,
Odwalla and Vitaminwater by The Coca-Cola Company as well as PureVia and Truvia
table-top products by Whole Earth and Cargill respectively.
Multi-million dollar advertising and promotional programmes have been launched
to support these brands, including Sobe Lifewater's advertising during coverage
of this year's NFL Super Bowl XLIII. We expect more brands to be launched
utilising our NHIS products over the next twelve months.
Customer Development
The global F&B market recognises that NHIS solutions will become the ideal
complement to sugar in mainstream F&B production and that they will allow for
the systematic reduction of calorific content across a range of categories and
segments. This recognition provides for a major expansion of PureCircle's target
customer base across a diverse F&B industry.
An integral part of the Group's marketing strategy is the provision of high
value added products. To that end, the Group recently announced a strategic
partnership with Firmenich, the world's largest privately-owned fragrance and
flavouring company, to accelerate the commercialisation of the Group's NHIS
solutions. The focus of the partnership will be the interaction between
sweetener development and specific F&B category needs.
Supply Chain
The Group is already the world's largest producer of NHIS. We continue to make
progress on scaling our supply chain further.
The Group has secured sufficient leaf to deliver projected FY2009 volumes.
Progress continues in diversifying leaf sources, particularly in Kenya and
Paraguay where both quality and yields are highly encouraging. The Group is also
investigating plantation-scale growing opportunities across a number of regions
including South East Asia, South America and Africa.
The Group's expanded 4,000 MT extraction plant in China will be operational, as
scheduled, in April 2009. The Group's capacity of 4,000 MT compares with an
estimated rest of industry total of just over 3,500 MT and which is highly
fragmented.
The extension of the Group's refinery in Malaysia, to 2,000 MT is on schedule
for completion by the end of 2009.
Management and Organisation
The Group has made a number of senior appointments in the last six months. It is
notable that all of the appointees have joined from major companies in the F&B
industry including a number from world-leading ingredients businesses.
The Group also established a sales presence in a number of countries including
the United States, Paraguay, Australia, Japan and Switzerland.
Outlook
Developments over just the last few months have further strengthened our view
that PureCircle has an exciting future as a mainstream food and beverage
ingredients producer.
Recognition of NHIS as the long-awaited solution to a huge and growing global
epidemic, places PureCircle in a strong position to leverage its first mover
advantage based on an established supply chain, leading technology, strong
market position, strategic partnerships and robust balance sheet. The prize is a
slice of a rapidly growing $10 billion marketplace.
This is an exciting time for PureCircle. As with all businesses, challenges
remain but we look forward to reporting on further progress.
Paul Selway-Swift, Chairman
Magomet Malsagov, Chief Executive
4 March 2009
Half Year Financial Results
For Financial Year Ending 30 June 2009
Unaudited Pro-forma*
For 6 month For 6 month
period to period to
31 Dec 2008 31 Dec 2007
USD '000 USD '000
Continuing Operations
Revenue 21,564 14,458 **
Cost of sales (12,915) (9,912)
Gross profit 8,649 4,546
Other income - 1,316
Administrative expenses (6,527) (3,272)
Operating profit before finance expenses 2,122 2,590
Finance costs (net of foreign exchange) (82) (1,410)
Profit before taxation 2,040 1,180
Profit before taxation 2,040 1,180
Income tax expense (13) 789
Profit after taxation 2,027 1,969
Attributable to:
Equity holders of the Company 2,063 1,220
Minority interests (36) 749
Earnings per share (US cents)
Basic 1.57 0.94
Diluted 1.55 0.94
*PureCircle Limited was incorporated on 23 July 2007 and acquired PureCircle Sdn
Bhd ("PCSB") Group on 27 September 2007. Accordingly the Pro-forma for the
period ended 31 December 2007 consolidated income statement covers the results
for PureCicle Limited Group from 1 October 2007 to 31 December 2007 aggregated
with the results for the PCSB Group from 1 July 2007 to 30 September 2007.
**Includes $5m of sales of crude stevia extract now discontinued. Condensed
Consolidated Balance Sheets
As at 31 December 2008
Restated1 Restated1
Unaudited Audited Audited
31 Dec 2008 30 Jun 2008 31 Dec 2007
USD '000 USD '000 USD '000
Assets
Non-Current Assets
Property, plant and equipment 48,837 31,912 25,825
Prepaid land lease payments 2,311 2,285 1,457
Investment in associate 101 126 145
Intangible assets 11,401 7,987 7,654
62,650 42,310 35,081
Current Assets
Inventories 36,081 9,582 12,499
Trade receivables 14,997 7,430 3,406
Other receivables 10,599 7,642 8,343
Amount Due from Related Party - 1,433 2,137
Fixed deposits 14,927 13,563 31,543
Cash and bank balances 12,418 30,888 12,721
89,022 70,538 70,649
Total Assets 151,672 112,848 105,730
Equity and Liabilities
Equity attributable to equity holders of the Company
Share capital 13,272 13,272 13,029
Share premium 64,224 64,104 55,697
Treasury shares * * *
Foreign currency translation reserve 1,367 1,439 181
Share option reserve 1,169 480 -
Retained profit 3,136 1,073 213
Shareholders' Equity 83,168 80,368 69,120
Minority Interests 2,821 1,381 11,612
Total Equity 85,989 81,749 80,732
Non-Current Liabilities
Long-term borrowings 11,098 11,888 10,615
11,098 11,888 10,615
Current Liabilities
Trade payables 1,789 1,186 777
Other payables and accruals 4,866 2,030 1,470
Short-term borrowings 47,930 15,995 12,136
54,585 19,211 14,383
Total Liabilities 65,683 31,099 24,998
Total Equity and Liabilities 151,672 112,848 105,730
Net assets per share (USD) 0.64 0.61 0.53
*Represents less than USD1.00.
1 During the period the principal subsidiaries adopted US Dollar as their
functional currency effective 1 July 2007. Under IAS21, the comparative audited
financial information has been restated. No material adjustments resulted from
the restatement. Full disclosure of the effects of the adjustments is set out in
Note 2 of the Notes to the Interim Financial Statements.
Condensed Consolidated Cash Flow Statement
For the Period Ended 31 December 2008
Restated1 Restated1
Unaudited Audited Audited
31 Dec 2008 30 Jun 2008 31 Dec 2007
USD '000 USD '000 USD '000
Cash Flows (for)/from Operating Activities
Profit before taxation 2,040 1,130 295
Adjustments for:-
Amortisation of intangible assets (32) 33 16
Amortisation of prepaid land lease payments - - 18
Depreciation of property, plant & equipment 1,097 973 459
Equipment written off - - 40
Interest expense 2,195 1,039 381
Interest income (277) (600) (127)
Unrealised gain on foreign exchange (1,655) - -
Share of loss of an associate 25 19 -
Excess of Group's interest in the net fair value of
acquiree's identifiable
assets, liabilities and and contingent liabilities over - (1,971) -
cost of acquisition
Share option reserve 689 480 -
Operating cash flow before working capital changes 4,082 1,103 1,082
(Increase)/Decrease in inventories (26,239) 2,917 (1,288)
Increase in trade and other receivables (10,539) (2,620) (6,928)
Increase/(Decrease) in trade and other payables 3,445 969 (2,057)
Net cash (for)/ from operations (29,251) 2,369 (9,191)
Interest received 277 600 127
Interest paid (2,195) (1,039) (381)
Tax paid (13) - -
Net cash (for)/from operating activities (31,182) 1,930 (9,445)
Cash flows for investing activities
Acquisition of net assets in a subsidiary, net of cash - - (6,708)
acquired
Acquisition of intangible assets (1,130) (366) (2,951)
Purchase of leasehold land (26) (828) (851)
Purchase of property, plant & equipment (17,611) (5,027) (2,658)
Net cash for investing activities (18,767) (6,221) (13,168)
Cash flows from financing activities
Proceeds from issuance of shares - - 60,920
Admission to AIM market expenses - - (3,318)
Proceeds from disposal of treasury shares 120 120 84
Net drawdown of term loans 33,183 3,685 3,348
Proceeds of issuance of share to MI - - 5,830
Net cash from financing activities 33,303 3,805 66,864
Effect of foreign exchange rate changes on cash and cash (72) 805 (507)
equivalents
Net (Decrease)/Increase in cash and cash equivalents (16,718) - 319 43,744
Cash & cash equivalents at beginning of period 44,063 43,744 -
Cash & cash equivalents at end of period 27,345 - 44,063 - 43,744
1 During the period the principal subsidiaries adopted US Dollar as their
functional currency effective 1 July 2007. Under IAS21, the comparative audited
financial information has been restated. No material adjustments resulted from
the restatement. Full disclosure of the effects of the adjustments is set out in
Note 2 of the Notes to the Interim Financial Statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR BCGDXIUGGGCX
Expand
Collapse
.
RNS Number : 2693O
PureCircle Limited
04 March 2009
PURECIRCLE LIMITED
("PureCircle" or "the Company")
Half yearly report for the six months ended 31 December 2008
PureCircle (www.purecircle.com), the world's leading producer of Natural High
Intensity Sweeteners, including Reb A ('NHIS'), today announces results for the
six months ended 31 December 2008.
IN JUST SIX MONTHS
Global brand launches using PureCircle's Reb A confirm $10 billion market taking
off
* Regulatory approvals around the world
* Australia, New Zealand, Switzerland, US FDA...Europe expected to follow
* Global brands launched with Reb A
* PepsiCo (Sobe LifeWater, Tropicana Juice)The Coca-Cola Company (Sprite Green,
Vitaminwater, Odwalla)Whole Earth (PureVia table-top)Cargill (Truvia table-top)
* Unprecedented rate of new product launches in just months since regulatory
clearances
* Strong consumer pull-through indicates growing market demand
PureCircle is the clear industry leader in this fast-growth market
* Q2: 9threcord production quarter in last 12 quarters
* Q2 production exceeded annual rate of 300MT (Q2 FY 2008 90MT)
* On track for Q4 annual rate of 700MT (Q4 FY 2008 200MT)
* Multi-year, multi-$m contracts secured with Pepsico, Whole Earth, Cargill
* Exclusive PureVia brand marketing & supply contracts signed
* Strategic partnership agreed with Firmenich
Scaling-up the business to meet demand and maintain market leading position now
key priority
* Expectation that customers will launch a succession of products using NHIS
* Focus will be on ensuring that PureCircle remains the market's supplier
partner of choice
* Scaling business in line with industry demand2,000 MT refinery by end
20094,000 MT extraction plant on stream April 2009Leaf supply secured
* Worldwide footprint in place to support global customers
SUMMARY FINANCIALS
Six months ended 31 December (US$m) 2008 2007 % growth FY 2009
(H1 FY 2009) (H1 FY 2008) vs FY 2008
Revenue 21.6 14.5* 49%
Gross Profit 8.6 4.5 91%
Net Profit after tax and minority 2.0 1.2 75%
*Included $5m of crude stevia sales now discontinued: like for like sales growth
is 127%
* Achieved Budget and strong growth against FY 2008 across all key performance
measures
Paul Selway-Swift, Chairman of PureCircle, commented:
"We are pleased to report a strong first half performance. The Company achieved
its budget targets and recorded significant growth in all key targets compared
to a year ago.
Events are moving on at a pace in the wider market. With widespread regulatory
clearances and many major product launches, it is clear that this is going to be
a large global industry.
PureCircle is the undisputed market leader. We are demonstrably scaling our
business rapidly and we have robust plans in place to keep doing so.
This is an exciting time for PureCircle. As with all businesses, challenges
remain but we look forward to reporting on further progress."
4 March 2009
Enquiries
PureCircle Limited
Magomet Malsagov, Managing Director +60 1 23888049
William Mitchell, Finance Director +44 7974 005 163
CollegeHill +44 20 7457 2020
Mark Garraway
Adam Aljewicz
RFC Corporate Finance Ltd +61 8 9480 2500
Stephen Allen
Chairman's & Chief Executive's Statement
Overview
We are pleased to present the first half year results for financial year ending
30 June 2009 (FY2009) covering the period from 1 July 2008 to 31 December 2008.
This is an exciting new industry with significant growth potential. Moreover,
PureCircle is the clear leader in developing the industry. At the time of our
IPO in December 2007, we identified a number of hurdles that needed to be
overcome if the industry were to take off. These were:
* regulatory clearances product launches by major F&B producersconsumer
pull-throughthe ability to successfully scale-up the business
During the period, regulatory clearances were received in substantially all key
markets culminating in the FDA's approval of Reb A in December, and we
immediately saw a rapid launch of major global brands by F&B companies. With
consumer pull-through on the back of these launches, we expect to see the rate
of new product launches gathering momentum.
With the market firmly established, our priority now is to ensure that we
successfully scale-up the business to meet the expected demand and to ensure
that we maintain our industry leading position.
Results
The first half FY 2009 saw a strong performance. The Group achieved its budget
targets and recorded significant growth compared to FY 2008 across all our key
performance indicators.
Revenues were up by 49% to US$21.6 million (H1 FY2008: $14.5 million) reflecting
increasing demand for our natural sweeteners. FY2008 sales included US$5 million
of crude stevia extract sales in China now discontinued, therefore underlying
sales growth was over 127%. Reb-A volumes were up over 125% at 95 MT (H1 FY2008:
42 MT). This compares to 115 MT sold in the whole of FY2008.
With four months of the FY to run, the Group has 250 MT contracted being just
over two thirds of the projected FY 2009 total. The Group is focused on securing
the remaining 100MT.
The Group's long-term sales strategy is to secure a widely diversified customer
base. Since 1 July 2008, the Group has started trading a number of multi-year
non-exclusive contracts with major F&B companies including PepsiCo, Whole Earth
and Cargill.
Gross margins improved 9 percentage points from 31% to 40% but, with projected
volumes for FY2009 running at just 17.5% of December 2009 refinery capacity, the
Group has significant potential to improve margins further as refining
throughput increases and the Group reaps the benefits of economies of scale.
The Group has a robust balance sheet with net assets of US$86.0 million and a
strong cash position of US$27.3 million.
While the Company is growing its business, the Board deems working capital to be
a priority. The Company will not be paying an interim dividend. This will be
reviewed in the future in light of the Group's progress and funding
requirements.
Business Review
The period saw a number of exciting market and business developments. In summary
there is undeniably now a global market for NHIS and PureCircle is the
undisputed market leader.
Regulatory Approval and Product Launches
In December 2008 the US Food & Drug Administration ('FDA') gave Generally
Recognised As Safe ('GRAS') clearance for high purity (97%) Reb-A.
Within days of the FDA's approval, early adopter F&B producers were unveiling
plans for major brand launches into the US market. Product launches have so far
included SoBe LifeWater and Tropicana Juice drinks by PepsiCo, Sprite Green,
Odwalla and Vitaminwater by The Coca-Cola Company as well as PureVia and Truvia
table-top products by Whole Earth and Cargill respectively.
Multi-million dollar advertising and promotional programmes have been launched
to support these brands, including Sobe Lifewater's advertising during coverage
of this year's NFL Super Bowl XLIII. We expect more brands to be launched
utilising our NHIS products over the next twelve months.
Customer Development
The global F&B market recognises that NHIS solutions will become the ideal
complement to sugar in mainstream F&B production and that they will allow for
the systematic reduction of calorific content across a range of categories and
segments. This recognition provides for a major expansion of PureCircle's target
customer base across a diverse F&B industry.
An integral part of the Group's marketing strategy is the provision of high
value added products. To that end, the Group recently announced a strategic
partnership with Firmenich, the world's largest privately-owned fragrance and
flavouring company, to accelerate the commercialisation of the Group's NHIS
solutions. The focus of the partnership will be the interaction between
sweetener development and specific F&B category needs.
Supply Chain
The Group is already the world's largest producer of NHIS. We continue to make
progress on scaling our supply chain further.
The Group has secured sufficient leaf to deliver projected FY2009 volumes.
Progress continues in diversifying leaf sources, particularly in Kenya and
Paraguay where both quality and yields are highly encouraging. The Group is also
investigating plantation-scale growing opportunities across a number of regions
including South East Asia, South America and Africa.
The Group's expanded 4,000 MT extraction plant in China will be operational, as
scheduled, in April 2009. The Group's capacity of 4,000 MT compares with an
estimated rest of industry total of just over 3,500 MT and which is highly
fragmented.
The extension of the Group's refinery in Malaysia, to 2,000 MT is on schedule
for completion by the end of 2009.
Management and Organisation
The Group has made a number of senior appointments in the last six months. It is
notable that all of the appointees have joined from major companies in the F&B
industry including a number from world-leading ingredients businesses.
The Group also established a sales presence in a number of countries including
the United States, Paraguay, Australia, Japan and Switzerland.
Outlook
Developments over just the last few months have further strengthened our view
that PureCircle has an exciting future as a mainstream food and beverage
ingredients producer.
Recognition of NHIS as the long-awaited solution to a huge and growing global
epidemic, places PureCircle in a strong position to leverage its first mover
advantage based on an established supply chain, leading technology, strong
market position, strategic partnerships and robust balance sheet. The prize is a
slice of a rapidly growing $10 billion marketplace.
This is an exciting time for PureCircle. As with all businesses, challenges
remain but we look forward to reporting on further progress.
Paul Selway-Swift, Chairman
Magomet Malsagov, Chief Executive
4 March 2009
Half Year Financial Results
For Financial Year Ending 30 June 2009
Unaudited Pro-forma*
For 6 month For 6 month
period to period to
31 Dec 2008 31 Dec 2007
USD '000 USD '000
Continuing Operations
Revenue 21,564 14,458 **
Cost of sales (12,915) (9,912)
Gross profit 8,649 4,546
Other income - 1,316
Administrative expenses (6,527) (3,272)
Operating profit before finance expenses 2,122 2,590
Finance costs (net of foreign exchange) (82) (1,410)
Profit before taxation 2,040 1,180
Profit before taxation 2,040 1,180
Income tax expense (13) 789
Profit after taxation 2,027 1,969
Attributable to:
Equity holders of the Company 2,063 1,220
Minority interests (36) 749
Earnings per share (US cents)
Basic 1.57 0.94
Diluted 1.55 0.94
*PureCircle Limited was incorporated on 23 July 2007 and acquired PureCircle Sdn
Bhd ("PCSB") Group on 27 September 2007. Accordingly the Pro-forma for the
period ended 31 December 2007 consolidated income statement covers the results
for PureCicle Limited Group from 1 October 2007 to 31 December 2007 aggregated
with the results for the PCSB Group from 1 July 2007 to 30 September 2007.
**Includes $5m of sales of crude stevia extract now discontinued. Condensed
Consolidated Balance Sheets
As at 31 December 2008
Restated1 Restated1
Unaudited Audited Audited
31 Dec 2008 30 Jun 2008 31 Dec 2007
USD '000 USD '000 USD '000
Assets
Non-Current Assets
Property, plant and equipment 48,837 31,912 25,825
Prepaid land lease payments 2,311 2,285 1,457
Investment in associate 101 126 145
Intangible assets 11,401 7,987 7,654
62,650 42,310 35,081
Current Assets
Inventories 36,081 9,582 12,499
Trade receivables 14,997 7,430 3,406
Other receivables 10,599 7,642 8,343
Amount Due from Related Party - 1,433 2,137
Fixed deposits 14,927 13,563 31,543
Cash and bank balances 12,418 30,888 12,721
89,022 70,538 70,649
Total Assets 151,672 112,848 105,730
Equity and Liabilities
Equity attributable to equity holders of the Company
Share capital 13,272 13,272 13,029
Share premium 64,224 64,104 55,697
Treasury shares * * *
Foreign currency translation reserve 1,367 1,439 181
Share option reserve 1,169 480 -
Retained profit 3,136 1,073 213
Shareholders' Equity 83,168 80,368 69,120
Minority Interests 2,821 1,381 11,612
Total Equity 85,989 81,749 80,732
Non-Current Liabilities
Long-term borrowings 11,098 11,888 10,615
11,098 11,888 10,615
Current Liabilities
Trade payables 1,789 1,186 777
Other payables and accruals 4,866 2,030 1,470
Short-term borrowings 47,930 15,995 12,136
54,585 19,211 14,383
Total Liabilities 65,683 31,099 24,998
Total Equity and Liabilities 151,672 112,848 105,730
Net assets per share (USD) 0.64 0.61 0.53
*Represents less than USD1.00.
1 During the period the principal subsidiaries adopted US Dollar as their
functional currency effective 1 July 2007. Under IAS21, the comparative audited
financial information has been restated. No material adjustments resulted from
the restatement. Full disclosure of the effects of the adjustments is set out in
Note 2 of the Notes to the Interim Financial Statements.
Condensed Consolidated Cash Flow Statement
For the Period Ended 31 December 2008
Restated1 Restated1
Unaudited Audited Audited
31 Dec 2008 30 Jun 2008 31 Dec 2007
USD '000 USD '000 USD '000
Cash Flows (for)/from Operating Activities
Profit before taxation 2,040 1,130 295
Adjustments for:-
Amortisation of intangible assets (32) 33 16
Amortisation of prepaid land lease payments - - 18
Depreciation of property, plant & equipment 1,097 973 459
Equipment written off - - 40
Interest expense 2,195 1,039 381
Interest income (277) (600) (127)
Unrealised gain on foreign exchange (1,655) - -
Share of loss of an associate 25 19 -
Excess of Group's interest in the net fair value of
acquiree's identifiable
assets, liabilities and and contingent liabilities over - (1,971) -
cost of acquisition
Share option reserve 689 480 -
Operating cash flow before working capital changes 4,082 1,103 1,082
(Increase)/Decrease in inventories (26,239) 2,917 (1,288)
Increase in trade and other receivables (10,539) (2,620) (6,928)
Increase/(Decrease) in trade and other payables 3,445 969 (2,057)
Net cash (for)/ from operations (29,251) 2,369 (9,191)
Interest received 277 600 127
Interest paid (2,195) (1,039) (381)
Tax paid (13) - -
Net cash (for)/from operating activities (31,182) 1,930 (9,445)
Cash flows for investing activities
Acquisition of net assets in a subsidiary, net of cash - - (6,708)
acquired
Acquisition of intangible assets (1,130) (366) (2,951)
Purchase of leasehold land (26) (828) (851)
Purchase of property, plant & equipment (17,611) (5,027) (2,658)
Net cash for investing activities (18,767) (6,221) (13,168)
Cash flows from financing activities
Proceeds from issuance of shares - - 60,920
Admission to AIM market expenses - - (3,318)
Proceeds from disposal of treasury shares 120 120 84
Net drawdown of term loans 33,183 3,685 3,348
Proceeds of issuance of share to MI - - 5,830
Net cash from financing activities 33,303 3,805 66,864
Effect of foreign exchange rate changes on cash and cash (72) 805 (507)
equivalents
Net (Decrease)/Increase in cash and cash equivalents (16,718) - 319 43,744
Cash & cash equivalents at beginning of period 44,063 43,744 -
Cash & cash equivalents at end of period 27,345 - 44,063 - 43,744
1 During the period the principal subsidiaries adopted US Dollar as their
functional currency effective 1 July 2007. Under IAS21, the comparative audited
financial information has been restated. No material adjustments resulted from
the restatement. Full disclosure of the effects of the adjustments is set out in
Note 2 of the Notes to the Interim Financial Statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR BCGDXIUGGGCX
REG-PureCircle Limited SENIOR INTERNATIONAL SALES TE
29.01.2009com:20090129:Rnsc4224M
.
RNS Number : 4224M
PureCircle Limited
29 January 2009
PureCircle Limited
('PureCircle' or 'the Group')
SENIOR INTERNATIONAL SALES TEAM APPOINTMENT
29 January 2009
PureCircle (LSE:PURE), the world's leading developer, producer, and marketer of
high purity Rebaudioside A (Reb A) announces a major addition to its
international sales team with a key appointment from within the ingredients
industry. Chris Hession joins the Group as Vice President Sales, for
Australasia, China and Japan.
Chris brings ten years of food ingredients industry experience and joins
PureCircle from McCormick Foods where he was Regional Sales Manager for Asia,
Australia and New Zealand.
Previously, he was with The NutraSweet Company.
This appointment follows that of Jordi Ferre who joined PureCircle from Tate &
Lyle to spearhead the commercial development of Reb A in the United States. In
December 2008, the US FDA issued a 'no-objection' letter, giving high-purity Reb
A Generally Recognised As Safe ("GRAS") status, which allows high-purity Reb A
to be adopted as a key ingredient in mainstream food and beverage production and
across entire product ranges. Food and drink manufacturers in the United States
are already using high-purity Reb A as a sweetener ingredientfollowing the
opening of the market with GRAS status for high-purity Reb A.
Commenting on the appointment, Peter Milsted, Executive Vice President,
Marketing and Sales of PureCircle, said:
"We are delighted to have someone of Chris' calibre and experience joining our
team. Markets around the world are increasingly adopting high-purity Reb A, the
first all-natural zero calorie sweetener to be used in mainstream food and
beverages. Chris's arrival, along with other recently announced appointments,
will further enable us to build on our first-mover advantage."
Enquiries:
PureCircle
Magomet Malsagov, Chief Executive Officer +601 2 388 8049
Peter Milsted, Director: Marketing & Sales +33 6 2184 5356
William Mitchell, Chief Financial Officer +44 7974 005 163
CollegeHill +44 20 7457 2020
Mark Garraway
Jon Davies
RFC Corporate Finance Ltd (NOMAD) +618 9480 2500
Stephen Allen
Trinity McIntyre
NOTES TO EDITORS
Senior Management
The senior management team comprises:
* Magomet Malsagov, Chief Executive Officer
* William Mitchell, Chief Financial Officer
* Peter Milsted, Director: Marketing & Sales
* Varuzhan Abelyan, Corporate Vice-President: R&D and Process Innovation
* Dorn Wenninger, Corporate Vice-President: Supply Chain
* Arne Lugeon, Corporate Vice-President: Human Resources
PureCircle's senior international sales and marketing team includes:
* Jordi Ferre, Vice-President & General Manager: PureCircle USA
* Angus Flood, Head of International Marketing
* Erik Bolcs, Vice President: European Sales
* Chris Hession, Vice President: Australasia, China and Japan Sales
About high-purity Reb A
High-purity Reb A is the world's first all-natural, zero calorie sweetener
derived from the Stevia Rebaudiana plant. For more on Reb A visit www.Reb-A.com
About PureCircle
PureCircle (LSE:PURE) is the world's leading producer of high-purity
Rebaudioside A (Reb A), with a vertically integrated supply chain operating in
three continents. PureCircle markets a range of natural sweeteners
internationally. Activities range from the sourcing of dry stevia leaves and
extraction, refining of high-purity Reb A into sweeteners and marketing of these
sweeteners to food and beverage manufacturers worldwide.
PureCircle's extraction plant can produce 1,000MT of stevia extract annually
which is currently the world's largest extraction facility. This is set to
increase to 4,000MT in March 2009. The Company has built the world's largest
state-of-the-art refining plant in Malaysia. This currently produces 1,000MT of
high purity Reb A and work has started to double this capacity to 2,000MT. The
Company's production facilities operate in compliance with cGMP, HACCP and ISO
standards.
During 2008, PureCircle announced contract extensions with Cargill and major new
contracts with PepsiCo and Whole Earth Sweetener Company for the supply of high
purity Reb A in beverages, foods and tabletop sweeteners worldwide including the
exclusive license to market PureViaTM Reb A as a ingredient (PureVia(tm) is a
trademark of PepsiCo Inc and Whole Earth Sweetener Company LLC: see
www.purevia.com).
In December 2008, PureCircle announced that the United States Food & Drug
Administration ("FDA") had issued a no objection letter with respect to
high-purity Reb A, formally giving high-purity Reb A Generally Recognised As
Safe ("GRAS") status for use in mainstream beverages, foods and tabletop
sweeteners, either as a complement to sugar or as a healthy substitute for
synthetic sweeteners. Other Stevia extract ingredients do not have GRAS status
in the United States.
PureCircle's investment in research and development has given it a leadership
position in the manufacture of high-purity Reb A, and their scientists are
globally recognised experts in their field.
The Company works with independent farmers in Thailand, China, Paraguay, Laos
and Kenya to grow the best quality stevia leaf. PureCircle works closely with
communities in each of these countries and endeavours to maximise the social,
economic and environmental benefits of its operations.
PureCircle's corporate offices are located in New Jersey USA; Asuncion,
Paraguay; Geneva, Switzerland; Kuala Lumpur, Malaysia; Ganzhou, China and
Kericho, Kenya.
PureCircle is listed on the London Stock Exchange AIM market under the ticker
symbol: PURE
For more information on PureCircle visit: www.purecircle.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUWSWRKARAUAR
Expand
Collapse
.
RNS Number : 4224M
PureCircle Limited
29 January 2009
PureCircle Limited
('PureCircle' or 'the Group')
SENIOR INTERNATIONAL SALES TEAM APPOINTMENT
29 January 2009
PureCircle (LSE:PURE), the world's leading developer, producer, and marketer of
high purity Rebaudioside A (Reb A) announces a major addition to its
international sales team with a key appointment from within the ingredients
industry. Chris Hession joins the Group as Vice President Sales, for
Australasia, China and Japan.
Chris brings ten years of food ingredients industry experience and joins
PureCircle from McCormick Foods where he was Regional Sales Manager for Asia,
Australia and New Zealand.
Previously, he was with The NutraSweet Company.
This appointment follows that of Jordi Ferre who joined PureCircle from Tate &
Lyle to spearhead the commercial development of Reb A in the United States. In
December 2008, the US FDA issued a 'no-objection' letter, giving high-purity Reb
A Generally Recognised As Safe ("GRAS") status, which allows high-purity Reb A
to be adopted as a key ingredient in mainstream food and beverage production and
across entire product ranges. Food and drink manufacturers in the United States
are already using high-purity Reb A as a sweetener ingredientfollowing the
opening of the market with GRAS status for high-purity Reb A.
Commenting on the appointment, Peter Milsted, Executive Vice President,
Marketing and Sales of PureCircle, said:
"We are delighted to have someone of Chris' calibre and experience joining our
team. Markets around the world are increasingly adopting high-purity Reb A, the
first all-natural zero calorie sweetener to be used in mainstream food and
beverages. Chris's arrival, along with other recently announced appointments,
will further enable us to build on our first-mover advantage."
Enquiries:
PureCircle
Magomet Malsagov, Chief Executive Officer +601 2 388 8049
Peter Milsted, Director: Marketing & Sales +33 6 2184 5356
William Mitchell, Chief Financial Officer +44 7974 005 163
CollegeHill +44 20 7457 2020
Mark Garraway
Jon Davies
RFC Corporate Finance Ltd (NOMAD) +618 9480 2500
Stephen Allen
Trinity McIntyre
NOTES TO EDITORS
Senior Management
The senior management team comprises:
* Magomet Malsagov, Chief Executive Officer
* William Mitchell, Chief Financial Officer
* Peter Milsted, Director: Marketing & Sales
* Varuzhan Abelyan, Corporate Vice-President: R&D and Process Innovation
* Dorn Wenninger, Corporate Vice-President: Supply Chain
* Arne Lugeon, Corporate Vice-President: Human Resources
PureCircle's senior international sales and marketing team includes:
* Jordi Ferre, Vice-President & General Manager: PureCircle USA
* Angus Flood, Head of International Marketing
* Erik Bolcs, Vice President: European Sales
* Chris Hession, Vice President: Australasia, China and Japan Sales
About high-purity Reb A
High-purity Reb A is the world's first all-natural, zero calorie sweetener
derived from the Stevia Rebaudiana plant. For more on Reb A visit www.Reb-A.com
About PureCircle
PureCircle (LSE:PURE) is the world's leading producer of high-purity
Rebaudioside A (Reb A), with a vertically integrated supply chain operating in
three continents. PureCircle markets a range of natural sweeteners
internationally. Activities range from the sourcing of dry stevia leaves and
extraction, refining of high-purity Reb A into sweeteners and marketing of these
sweeteners to food and beverage manufacturers worldwide.
PureCircle's extraction plant can produce 1,000MT of stevia extract annually
which is currently the world's largest extraction facility. This is set to
increase to 4,000MT in March 2009. The Company has built the world's largest
state-of-the-art refining plant in Malaysia. This currently produces 1,000MT of
high purity Reb A and work has started to double this capacity to 2,000MT. The
Company's production facilities operate in compliance with cGMP, HACCP and ISO
standards.
During 2008, PureCircle announced contract extensions with Cargill and major new
contracts with PepsiCo and Whole Earth Sweetener Company for the supply of high
purity Reb A in beverages, foods and tabletop sweeteners worldwide including the
exclusive license to market PureViaTM Reb A as a ingredient (PureVia(tm) is a
trademark of PepsiCo Inc and Whole Earth Sweetener Company LLC: see
www.purevia.com).
In December 2008, PureCircle announced that the United States Food & Drug
Administration ("FDA") had issued a no objection letter with respect to
high-purity Reb A, formally giving high-purity Reb A Generally Recognised As
Safe ("GRAS") status for use in mainstream beverages, foods and tabletop
sweeteners, either as a complement to sugar or as a healthy substitute for
synthetic sweeteners. Other Stevia extract ingredients do not have GRAS status
in the United States.
PureCircle's investment in research and development has given it a leadership
position in the manufacture of high-purity Reb A, and their scientists are
globally recognised experts in their field.
The Company works with independent farmers in Thailand, China, Paraguay, Laos
and Kenya to grow the best quality stevia leaf. PureCircle works closely with
communities in each of these countries and endeavours to maximise the social,
economic and environmental benefits of its operations.
PureCircle's corporate offices are located in New Jersey USA; Asuncion,
Paraguay; Geneva, Switzerland; Kuala Lumpur, Malaysia; Ganzhou, China and
Kericho, Kenya.
PureCircle is listed on the London Stock Exchange AIM market under the ticker
symbol: PURE
For more information on PureCircle visit: www.purecircle.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUWSWRKARAUAR
REG-PureCircle Limited Appointment
19.01.2009com:20090119:RnsS8382L
.
RNS Number : 8382L
PureCircle Limited
19 January 2009
PureCircle Limited
('PureCircle' or 'the Group')
PureCircle Grows International Sales & Marketing Team
19 January 2009: PureCircle (LSE:PURE), the world's leading developer, producer
and marketer of high-purity Rebaudioside A (Reb A), the first all-natural zero
calorie sweetener, announces the expansion of its international sales and
marketing team, with two key appointments from within the sweetener industry.
Angus Flood has moved from Fusion Nutraceuticals to be Head of International
Marketing and Erik Bolcs has joined from Nestle to be Vice President European
Sales, both based in PureCircle's Geneva office.
Bringing expert industry talent to PureCircle, Angus and Erik will drive the
global leader's international sales and marketing of high-purity Reb A in
markets such as South America, Asia, Europe/UK, New Zealand and Australia.
PureCircle is consolidating its first-mover advantage and building a leading
sales and marketing team to support the development of operations in the world's
key markets. The appointments follow that of Jordi Ferre who joined from Tate &
Lyle to spearhead development of the U.S business following the opening of the
market with GRAS status for high-purity Reb A.
Commenting on the appointments, Peter Milsted, Director, Marketing and Sales of
PureCircle, said:
"We are delighted to have Angus and Erik join our international sales and
marketing team. This comes at an exciting time for the company as markets around
the world begin to open up to high-purity Reb A, the first all-natural zero
calorie sweetener to be used in mainstream food and beverages. Opening of the
U.S market should pave the way for regulatory changes in other key markets, most
importantly in Europe," he said.
PureCircle has a strategic collaboration with Firmenich to accelerate the
commercialisation of high-purity Reb A in the global food and beverage industry.
Under terms of the agreement, Firmenich and PureCircle will offer natural
flavour and sweetening solutions to category leaders.
"With a corporate office in Switzerland, the heart of the flavours and colours
industry for Europe, a collaboration with Firmenich and the expansion of our
international sales and marketing team, we are well placed to work with global
food and beverage manufacturers in anticipation of further regulatory approval
for high-purity Reb A in this market," said Peter Milsted.
Angus brings 19 years' specialist natural food marketing and brand experience to
PureCircle. He joins from Fusion Nutraceuticals, where he was Marketing Director
responsible for the SucraPlus(tm) brand, competing with Tate and Lyle's
Spenda(R). Angus has also served on a variety of marketing committees including
the Food and Drink Federation, and has lectured on natural brand development at
Leatherhead Food International.
Erik Bolcs has 16 years international food and beverage experience with Nestle
and Givaudan. Erik was most recently Business Development Manager, Nestle Middle
East. Previously, Erik held technical commercial positions with Givaudan, across
Europe and was also Export Manager for Mediterranean countries. Erik brings a
wealth of technical product development and sales experience to PureCircle.
ENDS
Enquiries
PureCircle
Magomet Malsagov, Chief Executive Officer +601 2 388 8049
Peter Milsted, Director: Marketing & Sales +33 6 2184 5356
William Mitchell, Chief Financial Officer +44 7974 005 163
CollegeHill +44 20 7457 2020
Mark Garraway
Jon Davies
RFC Corporate Finance Ltd (NOMAD) +618 9480 2500
Stephen Allen
Trinity McIntyre
NOTES TO EDITORS
About high-purity Reb A
High-purity Reb A is the world's first all-natural, zero calorie sweetener
derived from the Stevia Rebaudiana plant. For more on Reb A visit www.Reb-A.com
About PureCircle
PureCircle (LSE:PURE) is the world's leading producer of high-purity
Rebaudioside A (Reb A), with a vertically integrated supply chain operating in
three continents. PureCircle markets a range of natural sweeteners
internationally. Activities range from the sourcing of dry stevia leaves and
extraction, refining of high-purity Reb A into sweeteners and marketing of these
sweeteners to food and beverage manufacturers worldwide.
PureCircle's extraction plant can produce 1,000MT of stevia extract annually
which is currently the world's largest extraction facility. This is set to
increase to 4,000MT in March 2009. The Company has built the world's largest
state-of-the-art refining plant in Malaysia. This currently produces 1,000MT of
high purity Reb A and work has started to double this capacity to 2,000MT. The
Company's production facilities operate in compliance with cGMP, HACCP and ISO
standards.
During 2008, PureCircle announced contract extensions with Cargill and major new
contracts with PepsiCo and Whole Earth Sweetener Company for the supply of high
purity Reb A in beverages, foods and tabletop sweeteners worldwide including the
exclusive license to market PureViaTM Reb A as a ingredient (PureVia(tm) is a
trademark of PepsiCo Inc and Whole Earth Sweetener Company LLC: see
www.purevia.com).
In December 2008, PureCircle announced that the United States Food & Drug
Administration ("FDA") had issued a no objection letter with respect to
high-purity Reb A, formally giving high-purity Reb A Generally Recognised As
Safe ("GRAS") status for use in mainstream beverages, foods and tabletop
sweeteners, either as a complement to sugar or as a healthy substitute for
synthetic sweeteners. Other Stevia extract ingredients do not have GRAS status
in the United States.
PureCircle's investment in research and development has given it a leadership
position in the manufacture of high-purity Reb A, and their scientists are
globally recognised experts in their field.
The Company works with independent farmers in Thailand, China, Paraguay, Laos
and Kenya to grow the best quality stevia leaf. PureCircle works closely with
communities in each of these countries and endeavours to maximise the social,
economic and environmental benefits of its operations.
PureCircle's corporate offices are located in New Jersey USA; Asuncion,
Paraguay; Geneva, Switzerland; Kuala Lumpur, Malaysia; Ganzhou, China and
Kericho, Kenya.
PureCircle is listed on the London Stock Exchange AIM market under the ticker
symbol: PURE
For more information on PureCircle visit: www.purecircle.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCEAKFNFSLNEEE
Expand
Collapse
.
RNS Number : 8382L
PureCircle Limited
19 January 2009
PureCircle Limited
('PureCircle' or 'the Group')
PureCircle Grows International Sales & Marketing Team
19 January 2009: PureCircle (LSE:PURE), the world's leading developer, producer
and marketer of high-purity Rebaudioside A (Reb A), the first all-natural zero
calorie sweetener, announces the expansion of its international sales and
marketing team, with two key appointments from within the sweetener industry.
Angus Flood has moved from Fusion Nutraceuticals to be Head of International
Marketing and Erik Bolcs has joined from Nestle to be Vice President European
Sales, both based in PureCircle's Geneva office.
Bringing expert industry talent to PureCircle, Angus and Erik will drive the
global leader's international sales and marketing of high-purity Reb A in
markets such as South America, Asia, Europe/UK, New Zealand and Australia.
PureCircle is consolidating its first-mover advantage and building a leading
sales and marketing team to support the development of operations in the world's
key markets. The appointments follow that of Jordi Ferre who joined from Tate &
Lyle to spearhead development of the U.S business following the opening of the
market with GRAS status for high-purity Reb A.
Commenting on the appointments, Peter Milsted, Director, Marketing and Sales of
PureCircle, said:
"We are delighted to have Angus and Erik join our international sales and
marketing team. This comes at an exciting time for the company as markets around
the world begin to open up to high-purity Reb A, the first all-natural zero
calorie sweetener to be used in mainstream food and beverages. Opening of the
U.S market should pave the way for regulatory changes in other key markets, most
importantly in Europe," he said.
PureCircle has a strategic collaboration with Firmenich to accelerate the
commercialisation of high-purity Reb A in the global food and beverage industry.
Under terms of the agreement, Firmenich and PureCircle will offer natural
flavour and sweetening solutions to category leaders.
"With a corporate office in Switzerland, the heart of the flavours and colours
industry for Europe, a collaboration with Firmenich and the expansion of our
international sales and marketing team, we are well placed to work with global
food and beverage manufacturers in anticipation of further regulatory approval
for high-purity Reb A in this market," said Peter Milsted.
Angus brings 19 years' specialist natural food marketing and brand experience to
PureCircle. He joins from Fusion Nutraceuticals, where he was Marketing Director
responsible for the SucraPlus(tm) brand, competing with Tate and Lyle's
Spenda(R). Angus has also served on a variety of marketing committees including
the Food and Drink Federation, and has lectured on natural brand development at
Leatherhead Food International.
Erik Bolcs has 16 years international food and beverage experience with Nestle
and Givaudan. Erik was most recently Business Development Manager, Nestle Middle
East. Previously, Erik held technical commercial positions with Givaudan, across
Europe and was also Export Manager for Mediterranean countries. Erik brings a
wealth of technical product development and sales experience to PureCircle.
ENDS
Enquiries
PureCircle
Magomet Malsagov, Chief Executive Officer +601 2 388 8049
Peter Milsted, Director: Marketing & Sales +33 6 2184 5356
William Mitchell, Chief Financial Officer +44 7974 005 163
CollegeHill +44 20 7457 2020
Mark Garraway
Jon Davies
RFC Corporate Finance Ltd (NOMAD) +618 9480 2500
Stephen Allen
Trinity McIntyre
NOTES TO EDITORS
About high-purity Reb A
High-purity Reb A is the world's first all-natural, zero calorie sweetener
derived from the Stevia Rebaudiana plant. For more on Reb A visit www.Reb-A.com
About PureCircle
PureCircle (LSE:PURE) is the world's leading producer of high-purity
Rebaudioside A (Reb A), with a vertically integrated supply chain operating in
three continents. PureCircle markets a range of natural sweeteners
internationally. Activities range from the sourcing of dry stevia leaves and
extraction, refining of high-purity Reb A into sweeteners and marketing of these
sweeteners to food and beverage manufacturers worldwide.
PureCircle's extraction plant can produce 1,000MT of stevia extract annually
which is currently the world's largest extraction facility. This is set to
increase to 4,000MT in March 2009. The Company has built the world's largest
state-of-the-art refining plant in Malaysia. This currently produces 1,000MT of
high purity Reb A and work has started to double this capacity to 2,000MT. The
Company's production facilities operate in compliance with cGMP, HACCP and ISO
standards.
During 2008, PureCircle announced contract extensions with Cargill and major new
contracts with PepsiCo and Whole Earth Sweetener Company for the supply of high
purity Reb A in beverages, foods and tabletop sweeteners worldwide including the
exclusive license to market PureViaTM Reb A as a ingredient (PureVia(tm) is a
trademark of PepsiCo Inc and Whole Earth Sweetener Company LLC: see
www.purevia.com).
In December 2008, PureCircle announced that the United States Food & Drug
Administration ("FDA") had issued a no objection letter with respect to
high-purity Reb A, formally giving high-purity Reb A Generally Recognised As
Safe ("GRAS") status for use in mainstream beverages, foods and tabletop
sweeteners, either as a complement to sugar or as a healthy substitute for
synthetic sweeteners. Other Stevia extract ingredients do not have GRAS status
in the United States.
PureCircle's investment in research and development has given it a leadership
position in the manufacture of high-purity Reb A, and their scientists are
globally recognised experts in their field.
The Company works with independent farmers in Thailand, China, Paraguay, Laos
and Kenya to grow the best quality stevia leaf. PureCircle works closely with
communities in each of these countries and endeavours to maximise the social,
economic and environmental benefits of its operations.
PureCircle's corporate offices are located in New Jersey USA; Asuncion,
Paraguay; Geneva, Switzerland; Kuala Lumpur, Malaysia; Ganzhou, China and
Kericho, Kenya.
PureCircle is listed on the London Stock Exchange AIM market under the ticker
symbol: PURE
For more information on PureCircle visit: www.purecircle.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCEAKFNFSLNEEE
REG-PureCircle Limited Appointment of Head of PureCi
13.01.2009com:20090113:RnsM5128L
.
RNS Number : 5128L
PureCircle Limited
13 January 2009
PureCircle Limited
('PureCircle' or 'the Group')
Appointment of Head of PureCircle USA: Jordi Ferre to spearhead development of
US business
13 January 2009.
PureCircle (LSE:PURE), the world's leading developer, producer, and marketer of
high purity Rebaudioside A (Reb A) announces a major addition to its senior
management team and US business with the appointment of former Tate & Lyle sales
and marketing vice president, Jordi Ferre. Jordi will be Vice-President and
General Manager, PureCircle USA.
Jordi will be responsible for spearheading the commercial development of Reb A
in the United States. His appointment follows the FDA's issuance of a no
objection letter in December, which gave high-purity Reb A Generally Recognised
As Safe ("GRAS") status, allowing high-purity Reb A to be adopted as a key
ingredient in mainstream food and beverage production and across entire product
ranges. Food and drink manufacturers in the United States are already using
high-purity Reb A as a sweetener ingredient.
Jordi, who has an MBA from ESADE Business School in Barcelona, has over 20 years
experience in the global food and beverage industry.
He joins PureCircle from Tate & Lyle where he was latterly Vice President, Sales
& Marketing for the group's Splenda(R) Sucralose division worldwide.
Prior to joining Tate & Lyle, Jordi held a number of senior sales and marketing
positions at a range of food companies in both the United States and Europe and,
during this time, received the prestigious "Marketeer of the New Generation"
award from US magazine BrandWeek.
Commenting on the Jordi's appointment, Magomet Malsagov, Chief Executive
Officer, said:
"GRAS status has opened up the United States, the world's largest market for
high purity Reb A, and as the world's leading producer of this all-natural zero
calorie sweetener we are determined to fully exploit our leadership position.
"We are delighted that Jordi is joining PureCircle. The fact that we are able
to attract someone of his calibre to spearhead our growth in the USA highlights
both the size of the market opportunity and the recognition that PureCircle has
already secured as the clear leader in our fast growing industry.
"With Jordi's arrival, we have added further to what was already one the most
experienced management teams in the business. We will continue to invest in our
global market leadership and expect to announce further senior appointments in
due course."
Enquiries
PureCircle
Magomet Malsagov, Chief Executive Officer +601 2 388 8049
Peter Milsted, Director: Marketing & Sales +33 6 2184 5356
William Mitchell, Chief Financial Officer +44 7974 005 163
CollegeHill +44 20 7457 2020
Mark Garraway
Jon Davies
RFC Corporate Finance Ltd (NOMAD) +618 9480 2500
Stephen Allen
Trinity McIntyre
NOTES TO EDITORS
Senior Management
The senior management team comprises:
- Magomet Malsagov, Chief Executive Officer
- William Mitchell, Chief Financial Officer
- Peter Milsted, Director: Marketing & Sales
- Varuzhan Abelyan, Corporate Vice-President: R&D and Process
Innovation
- Dorn Wenninger, Corporate Vice-President: Supply Chain
- Tat Seng Koh, Corporate Vice-President: Business Development
- Arne Lugeon, Corporate Vice-President: Human Resources
and, Jordi Ferre, Vice-President & General Manager, Pure Circle USA
About high-purity Reb A
High-purity Reb A is the world's first all-natural, zero calorie sweetener
derived from the Stevia Rebaudiana plant. For more on Reb A visit www.Reb-A.com
About PureCircle
PureCircle (LSE:PURE) is the world's leading producer of high-purity
Rebaudioside A (Reb A), with a vertically integrated supply chain operating in
three continents. PureCircle markets a range of natural sweeteners
internationally. Activities range from the sourcing of dry stevia leaves and
extraction, refining of high-purity Reb A into sweeteners and marketing of these
sweeteners to food and beverage manufacturers worldwide.
PureCircle's extraction plant can produce 1,000MT of stevia extract annually
which is currently the world's largest extraction facility. This is set to
increase to 4,000MT in March 2009. The Company has built the world's largest
state-of-the-art refining plant in Malaysia. This currently produces 1,000MT of
high purity Reb A and work has started to double this capacity to 2,000MT. The
Company's production facilities operate in compliance with cGMP, HACCP and ISO
standards.
During 2008, PureCircle announced contract extensions with Cargill and major new
contracts with PepsiCo and Whole Earth Sweetener Company for the supply of high
purity Reb A in beverages, foods and tabletop sweeteners worldwide including the
exclusive license to market PureViaTM Reb A as a ingredient (PureVia(tm) is a
trademark of PepsiCo Inc and Whole Earth Sweetener Company LLC: see
www.purevia.com).
In December 2008, PureCircle announced that the United States Food & Drug
Administration ("FDA") had issued a no objection letter with respect to
high-purity Reb A, formally giving high-purity Reb A Generally Recognised As
Safe ("GRAS") status for use in mainstream beverages, foods and tabletop
sweeteners, either as a complement to sugar or as a healthy substitute for
synthetic sweeteners. Other Stevia extract ingredients do not have GRAS status
in the United States.
PureCircle's investment in research and development has given it a leadership
position in the manufacture of high-purity Reb A, and their scientists are
globally recognised experts in their field.
The Company works with independent farmers in Thailand, China, Paraguay, Laos
and Kenya to grow the best quality stevia leaf. PureCircle works closely with
communities in each of these countries and endeavours to maximise the social,
economic and environmental benefits of its operations.
PureCircle's corporate offices are located in New Jersey USA; Asuncion,
Paraguay; Geneva, Switzerland; Kuala Lumpur, Malaysia; Ganzhou, China and
Kericho, Kenya.
PureCircle is listed on the London Stock Exchange AIM market under the ticker
symbol: PURE
For more information on PureCircle visit: www.purecircle.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCDLLFFKFBEBBB
Expand
Collapse
.
RNS Number : 5128L
PureCircle Limited
13 January 2009
PureCircle Limited
('PureCircle' or 'the Group')
Appointment of Head of PureCircle USA: Jordi Ferre to spearhead development of
US business
13 January 2009.
PureCircle (LSE:PURE), the world's leading developer, producer, and marketer of
high purity Rebaudioside A (Reb A) announces a major addition to its senior
management team and US business with the appointment of former Tate & Lyle sales
and marketing vice president, Jordi Ferre. Jordi will be Vice-President and
General Manager, PureCircle USA.
Jordi will be responsible for spearheading the commercial development of Reb A
in the United States. His appointment follows the FDA's issuance of a no
objection letter in December, which gave high-purity Reb A Generally Recognised
As Safe ("GRAS") status, allowing high-purity Reb A to be adopted as a key
ingredient in mainstream food and beverage production and across entire product
ranges. Food and drink manufacturers in the United States are already using
high-purity Reb A as a sweetener ingredient.
Jordi, who has an MBA from ESADE Business School in Barcelona, has over 20 years
experience in the global food and beverage industry.
He joins PureCircle from Tate & Lyle where he was latterly Vice President, Sales
& Marketing for the group's Splenda(R) Sucralose division worldwide.
Prior to joining Tate & Lyle, Jordi held a number of senior sales and marketing
positions at a range of food companies in both the United States and Europe and,
during this time, received the prestigious "Marketeer of the New Generation"
award from US magazine BrandWeek.
Commenting on the Jordi's appointment, Magomet Malsagov, Chief Executive
Officer, said:
"GRAS status has opened up the United States, the world's largest market for
high purity Reb A, and as the world's leading producer of this all-natural zero
calorie sweetener we are determined to fully exploit our leadership position.
"We are delighted that Jordi is joining PureCircle. The fact that we are able
to attract someone of his calibre to spearhead our growth in the USA highlights
both the size of the market opportunity and the recognition that PureCircle has
already secured as the clear leader in our fast growing industry.
"With Jordi's arrival, we have added further to what was already one the most
experienced management teams in the business. We will continue to invest in our
global market leadership and expect to announce further senior appointments in
due course."
Enquiries
PureCircle
Magomet Malsagov, Chief Executive Officer +601 2 388 8049
Peter Milsted, Director: Marketing & Sales +33 6 2184 5356
William Mitchell, Chief Financial Officer +44 7974 005 163
CollegeHill +44 20 7457 2020
Mark Garraway
Jon Davies
RFC Corporate Finance Ltd (NOMAD) +618 9480 2500
Stephen Allen
Trinity McIntyre
NOTES TO EDITORS
Senior Management
The senior management team comprises:
- Magomet Malsagov, Chief Executive Officer
- William Mitchell, Chief Financial Officer
- Peter Milsted, Director: Marketing & Sales
- Varuzhan Abelyan, Corporate Vice-President: R&D and Process
Innovation
- Dorn Wenninger, Corporate Vice-President: Supply Chain
- Tat Seng Koh, Corporate Vice-President: Business Development
- Arne Lugeon, Corporate Vice-President: Human Resources
and, Jordi Ferre, Vice-President & General Manager, Pure Circle USA
About high-purity Reb A
High-purity Reb A is the world's first all-natural, zero calorie sweetener
derived from the Stevia Rebaudiana plant. For more on Reb A visit www.Reb-A.com
About PureCircle
PureCircle (LSE:PURE) is the world's leading producer of high-purity
Rebaudioside A (Reb A), with a vertically integrated supply chain operating in
three continents. PureCircle markets a range of natural sweeteners
internationally. Activities range from the sourcing of dry stevia leaves and
extraction, refining of high-purity Reb A into sweeteners and marketing of these
sweeteners to food and beverage manufacturers worldwide.
PureCircle's extraction plant can produce 1,000MT of stevia extract annually
which is currently the world's largest extraction facility. This is set to
increase to 4,000MT in March 2009. The Company has built the world's largest
state-of-the-art refining plant in Malaysia. This currently produces 1,000MT of
high purity Reb A and work has started to double this capacity to 2,000MT. The
Company's production facilities operate in compliance with cGMP, HACCP and ISO
standards.
During 2008, PureCircle announced contract extensions with Cargill and major new
contracts with PepsiCo and Whole Earth Sweetener Company for the supply of high
purity Reb A in beverages, foods and tabletop sweeteners worldwide including the
exclusive license to market PureViaTM Reb A as a ingredient (PureVia(tm) is a
trademark of PepsiCo Inc and Whole Earth Sweetener Company LLC: see
www.purevia.com).
In December 2008, PureCircle announced that the United States Food & Drug
Administration ("FDA") had issued a no objection letter with respect to
high-purity Reb A, formally giving high-purity Reb A Generally Recognised As
Safe ("GRAS") status for use in mainstream beverages, foods and tabletop
sweeteners, either as a complement to sugar or as a healthy substitute for
synthetic sweeteners. Other Stevia extract ingredients do not have GRAS status
in the United States.
PureCircle's investment in research and development has given it a leadership
position in the manufacture of high-purity Reb A, and their scientists are
globally recognised experts in their field.
The Company works with independent farmers in Thailand, China, Paraguay, Laos
and Kenya to grow the best quality stevia leaf. PureCircle works closely with
communities in each of these countries and endeavours to maximise the social,
economic and environmental benefits of its operations.
PureCircle's corporate offices are located in New Jersey USA; Asuncion,
Paraguay; Geneva, Switzerland; Kuala Lumpur, Malaysia; Ganzhou, China and
Kericho, Kenya.
PureCircle is listed on the London Stock Exchange AIM market under the ticker
symbol: PURE
For more information on PureCircle visit: www.purecircle.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCDLLFFKFBEBBB
REG-PureCircle Limited Notice of Results
12.01.2009com:20090112:RnsL4534L
.
RNS Number : 4534L
PureCircle Limited
12 January 2009
PURECIRCLE LIMITED("PureCircle" or "the Company")
Notification of interim results
London: 12 January 2009
PureCircle (LSE:PURE), the world's leading developer, producer and marketer of
high-purity Rebaudioside A (Reb A), the first all-natural zero calorie
sweetener, will be announcing its interim results for the six months ended 31
December 2008 on 4 March 2009. A presentation for analysts, which will include
an update on general business developments, will take place that morning at
09.30 at the offices of College Hill*.
Enquiries:
PureCircle Tel: +44 7974 005 163
William Mitchell, Finance Director
College Hill Tel: +44 20 74572020
Mark Garraway / Jon Davies
RFC Corporate Finance (NOMAD) Tel: +61 8 9480 2500
Steve Allen
* The Registry, Royal Mint Court, London EC3N 4QN
For further information please visit the company website: www.purecircle.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
NORDLLBFKFBBBBV
Expand
Collapse
.
RNS Number : 4534L
PureCircle Limited
12 January 2009
PURECIRCLE LIMITED("PureCircle" or "the Company")
Notification of interim results
London: 12 January 2009
PureCircle (LSE:PURE), the world's leading developer, producer and marketer of
high-purity Rebaudioside A (Reb A), the first all-natural zero calorie
sweetener, will be announcing its interim results for the six months ended 31
December 2008 on 4 March 2009. A presentation for analysts, which will include
an update on general business developments, will take place that morning at
09.30 at the offices of College Hill*.
Enquiries:
PureCircle Tel: +44 7974 005 163
William Mitchell, Finance Director
College Hill Tel: +44 20 74572020
Mark Garraway / Jon Davies
RFC Corporate Finance (NOMAD) Tel: +61 8 9480 2500
Steve Allen
* The Registry, Royal Mint Court, London EC3N 4QN
For further information please visit the company website: www.purecircle.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
NORDLLBFKFBBBBV
REG-PureCircle Limited Strategic Global Collaboratio
06.01.2009com:20090106:RnsF1565L
.
RNS Number : 1565L
PureCircle Limited
06 January 2009
PureCircle Limited
Exclusive Global Strategic Collaboration with Firmenich on All-Natural
Zero-Calorie Sweetener for Food & Beverage Market
PureCircle (LSE:PURE), the world's leading developer, producer and marketer of
high-purity Rebaudioside A (Reb A), the first all-natural zero calorie
sweetener, announces today an exclusive global strategic collaboration with
Firmenich, the world's largest privately-owned fragrance and flavour company, to
accelerate the commercialisation of Reb A in the global food and beverage
industry.
PureCircle, is the world's largest supplier of high-purity Reb A which can be
used as a key ingredient in mainstream food and beverages.
In December 2008, PureCircle announced that the United States Food & Drug
Administration ("FDA") had issued a no objection letter with respect to
high-purity Reb A, formally giving high-purity Reb A Generally Recognised As
Safe ("GRAS") status for use in beverages, foods and tabletop sweeteners, either
as a complement to sugar or as a healthy substitute for synthetic sweeteners.
The FDA's response effectively opened the United States, the world's largest
market, for high-purity Reb A to be adopted as a key ingredient in mainstream
food and beverage production and across entire product ranges. Food and drink
manufacturers in the United States are already using high-purity Reb A as a
sweetener ingredient.
Firmenich has developed innovative flavour systems for Reb A, which will be
rolled out across food and beverage applications. Under the terms of the
collaboration, Firmenich and PureCircle will combine to offer natural flavour
and sweetening solutions to category leaders in the global food and beverage
market.
Commenting on the collaboration, Magomet Malsagov, Chief Executive Officer of
PureCircle, said:
"Health and wellness is at the top of our customers' innovation agenda as they
increasingly respond to consumer demand for healthier food and beverage
products. The all-natural and calorie-free sweetener, Reb A, is seen as
providing that solution.
"Combining Firmenich's world class flavour ability and global reach, with the
ground- breaking low calorie natural sweetening that Reb A provides, is a major
event in the food and beverage industry. Calorie reduction is a major
development platform in all key application areas."
Patrick Firmenich, CEO of Firmenich, added:
"Reducing sugar in food and beverage products, while maintaining consumer
preference, is one of the biggest challenges in our business today. By combining
PureCircle's know-how in Reb A with Firmenich's expertise in sweetness
enhancement and flavour masking, I believe that we can fulfil consumer desires
for great tasting, low sugar, low calorie foods and beverages."
6 January 2009
ENQUIRIES
PureCircle Tel: +60 3 2093 9333
Magomet Malsagov, Chief Executive Tel: +60 123 888 049
William Mitchell, Group Finance Director Tel: +44 7974 005163
Peter Milsted, Sales & Marketing Director Tel: +33 61222 0499
College Hill Tel: +44 20 7457 2020
Mark Garraway
Jon Davies
RFC (NOMAD)
Steve Allen Tel: +61 89 480 2507
Firmenich
Karen Saddler, VP Communication karen.saddler@firmenich.com
Notes to editors
About high-purity Reb A
High-purity Reb A is the world's first all-natural, zero calorie sweetener
derived from the Stevia Rebaudiana plant. For more on Reb A visit www.Reb-A.com
About PureCircle
PureCircle (LSE:PURE) is the world's leading producer of high-purity
Rebaudioside A (Reb A), with a vertically integrated supply chain operating in
three continents. PureCircle markets a range of natural sweeteners
internationally. Activities range from the sourcing of dry stevia leaves and
extraction, refining of high-purity Reb A into sweeteners and marketing of these
sweeteners to food and beverage manufacturers worldwide.
PureCircle's extraction plant can produce 1,000MT of stevia extract annually
which is currently the world's largest extraction facility. This is set to
increase to 4,000MT in March 2009. The Company has built the world's largest
state-of-the-art refining plant in Malaysia. This currently produces 1,000MT of
high purity Reb A and work has started to double this capacity to 2,000MT. The
Company's production facilities operate in compliance with cGMP, HACCP and ISO
standards.
During 2008, PureCircle announced contract extensions with Cargill and major new
contracts with PepsiCo and Whole Earth Sweetener Company for the supply of high
purity Reb A in beverages, foods and tabletop sweeteners worldwide including the
exclusive license to market PureViaTM Reb A as a ingredient (PureVia(tm) is a
trademark of PepsiCo Inc and Whole Earth Sweetener Company LLC: see
www.purevia.com).
In December 2008, PureCircle announced that the United States Food & Drug
Administration ("FDA") had issued a no objection letter with respect to
high-purity Reb A, formally giving high-purity Reb A Generally Recognised As
Safe ("GRAS") status for use in mainstream beverages, foods and tabletop
sweeteners, either as a complement to sugar or as a healthy substitute for
synthetic sweeteners. Other Stevia extract ingredients do not have GRAS status
in the United States.
PureCircle's investment in research and development has given it a leadership
position in the manufacture of high-purity Reb A, and their scientists are
globally recognised experts in their field.
The Company works with independent farmers in Thailand, China, Paraguay, Laos
and Kenya to grow the best quality stevia leaf. PureCircle works closely with
communities in each of these countries and endeavours to maximise the social,
economic and environmental benefits of its operations.
PureCircle's corporate offices are located in New Jersey USA; Asuncion,
Paraguay; Geneva, Switzerland; Kuala Lumpur, Malaysia; Ganzhou, China and
Kericho, Kenya.
PureCircle is listed on the London Stock Exchange AIM market under the ticker
symbol: PURE
For more information on PureCircle visit: www.purecircle.com
About Firmenich
Firmenich is the world's largest privately owned company (No.2 worldwide) in the
flavour and fragrance business. Founded in Geneva, Switzerland, in 1895, it has
created many of the world's best-known flavours and perfumes that we 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. Each year, it invests around 10% of its
turnover in R&D, reflecting its continuous desire to understand, share and
sublimate the best of nature's offering. Firmenich had an annual turnover of 2.8
billion Swiss Francs at end June 2008.
For more information on Firmenich visit: http://www.firmenich.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
SALUUUWAGUPBUQQ
Expand
Collapse
.
RNS Number : 1565L
PureCircle Limited
06 January 2009
PureCircle Limited
Exclusive Global Strategic Collaboration with Firmenich on All-Natural
Zero-Calorie Sweetener for Food & Beverage Market
PureCircle (LSE:PURE), the world's leading developer, producer and marketer of
high-purity Rebaudioside A (Reb A), the first all-natural zero calorie
sweetener, announces today an exclusive global strategic collaboration with
Firmenich, the world's largest privately-owned fragrance and flavour company, to
accelerate the commercialisation of Reb A in the global food and beverage
industry.
PureCircle, is the world's largest supplier of high-purity Reb A which can be
used as a key ingredient in mainstream food and beverages.
In December 2008, PureCircle announced that the United States Food & Drug
Administration ("FDA") had issued a no objection letter with respect to
high-purity Reb A, formally giving high-purity Reb A Generally Recognised As
Safe ("GRAS") status for use in beverages, foods and tabletop sweeteners, either
as a complement to sugar or as a healthy substitute for synthetic sweeteners.
The FDA's response effectively opened the United States, the world's largest
market, for high-purity Reb A to be adopted as a key ingredient in mainstream
food and beverage production and across entire product ranges. Food and drink
manufacturers in the United States are already using high-purity Reb A as a
sweetener ingredient.
Firmenich has developed innovative flavour systems for Reb A, which will be
rolled out across food and beverage applications. Under the terms of the
collaboration, Firmenich and PureCircle will combine to offer natural flavour
and sweetening solutions to category leaders in the global food and beverage
market.
Commenting on the collaboration, Magomet Malsagov, Chief Executive Officer of
PureCircle, said:
"Health and wellness is at the top of our customers' innovation agenda as they
increasingly respond to consumer demand for healthier food and beverage
products. The all-natural and calorie-free sweetener, Reb A, is seen as
providing that solution.
"Combining Firmenich's world class flavour ability and global reach, with the
ground- breaking low calorie natural sweetening that Reb A provides, is a major
event in the food and beverage industry. Calorie reduction is a major
development platform in all key application areas."
Patrick Firmenich, CEO of Firmenich, added:
"Reducing sugar in food and beverage products, while maintaining consumer
preference, is one of the biggest challenges in our business today. By combining
PureCircle's know-how in Reb A with Firmenich's expertise in sweetness
enhancement and flavour masking, I believe that we can fulfil consumer desires
for great tasting, low sugar, low calorie foods and beverages."
6 January 2009
ENQUIRIES
PureCircle Tel: +60 3 2093 9333
Magomet Malsagov, Chief Executive Tel: +60 123 888 049
William Mitchell, Group Finance Director Tel: +44 7974 005163
Peter Milsted, Sales & Marketing Director Tel: +33 61222 0499
College Hill Tel: +44 20 7457 2020
Mark Garraway
Jon Davies
RFC (NOMAD)
Steve Allen Tel: +61 89 480 2507
Firmenich
Karen Saddler, VP Communication karen.saddler@firmenich.com
Notes to editors
About high-purity Reb A
High-purity Reb A is the world's first all-natural, zero calorie sweetener
derived from the Stevia Rebaudiana plant. For more on Reb A visit www.Reb-A.com
About PureCircle
PureCircle (LSE:PURE) is the world's leading producer of high-purity
Rebaudioside A (Reb A), with a vertically integrated supply chain operating in
three continents. PureCircle markets a range of natural sweeteners
internationally. Activities range from the sourcing of dry stevia leaves and
extraction, refining of high-purity Reb A into sweeteners and marketing of these
sweeteners to food and beverage manufacturers worldwide.
PureCircle's extraction plant can produce 1,000MT of stevia extract annually
which is currently the world's largest extraction facility. This is set to
increase to 4,000MT in March 2009. The Company has built the world's largest
state-of-the-art refining plant in Malaysia. This currently produces 1,000MT of
high purity Reb A and work has started to double this capacity to 2,000MT. The
Company's production facilities operate in compliance with cGMP, HACCP and ISO
standards.
During 2008, PureCircle announced contract extensions with Cargill and major new
contracts with PepsiCo and Whole Earth Sweetener Company for the supply of high
purity Reb A in beverages, foods and tabletop sweeteners worldwide including the
exclusive license to market PureViaTM Reb A as a ingredient (PureVia(tm) is a
trademark of PepsiCo Inc and Whole Earth Sweetener Company LLC: see
www.purevia.com).
In December 2008, PureCircle announced that the United States Food & Drug
Administration ("FDA") had issued a no objection letter with respect to
high-purity Reb A, formally giving high-purity Reb A Generally Recognised As
Safe ("GRAS") status for use in mainstream beverages, foods and tabletop
sweeteners, either as a complement to sugar or as a healthy substitute for
synthetic sweeteners. Other Stevia extract ingredients do not have GRAS status
in the United States.
PureCircle's investment in research and development has given it a leadership
position in the manufacture of high-purity Reb A, and their scientists are
globally recognised experts in their field.
The Company works with independent farmers in Thailand, China, Paraguay, Laos
and Kenya to grow the best quality stevia leaf. PureCircle works closely with
communities in each of these countries and endeavours to maximise the social,
economic and environmental benefits of its operations.
PureCircle's corporate offices are located in New Jersey USA; Asuncion,
Paraguay; Geneva, Switzerland; Kuala Lumpur, Malaysia; Ganzhou, China and
Kericho, Kenya.
PureCircle is listed on the London Stock Exchange AIM market under the ticker
symbol: PURE
For more information on PureCircle visit: www.purecircle.com
About Firmenich
Firmenich is the world's largest privately owned company (No.2 worldwide) in the
flavour and fragrance business. Founded in Geneva, Switzerland, in 1895, it has
created many of the world's best-known flavours and perfumes that we 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. Each year, it invests around 10% of its
turnover in R&D, reflecting its continuous desire to understand, share and
sublimate the best of nature's offering. Firmenich had an annual turnover of 2.8
billion Swiss Francs at end June 2008.
For more information on Firmenich visit: http://www.firmenich.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
SALUUUWAGUPBUQQ
