Martek Biosciences Corporation has announced that it has entered into a multi-year DHA and ARA agreement with Feihe Dairy, a wholly owned subsidiary of American Dairy, Inc. Under the terms of the agreement, Feihe Dairy will purchase its total requirements of DHA and ARA for its new premium infant formula and growing-up milk products sold in China.
"This new agreement with Feihe Dairy is another important step in Martek's effort to expand its international presence in the Chinese infant formula market," said Binglin Shen, general manager of China operations for Martek. "We are pleased to be working with Feihe Dairy and believe this agreement again demonstrates that companies around the world continue to recognize the importance of adding Martek's trusted sources of DHA and ARA to products for infants and children."
"Featuring life'sDHA and life'sARA, Xinfeifan Baby Formula Milk Powder is designed to meet the nutritional requirements of child growth and development," said You-bin Leng, Feihe Dairy chairman and CEO. "Feihe Diary is pleased to partner with Martek to launch this innovative, quality infant formula product that is important to Feihe Dairy's international strategy."
Martek manufactures nutritional oils that contain the long-chain polyunsaturated fatty acids DHA and ARA, both of which are naturally present in breast milk. Clinical studies have demonstrated benefits for infants receiving formula supplemented with DHA and ARA. Martek's proprietary blend of DHA and ARA, marketed under the brand names life'sDHA and life'sARA(TM), is currently used in over 95 percent of U.S. infant formulas. Additionally, infant formula containing life'sDHA and life'sARA has been consumed by over 50 million infants in over 75 countries worldwide.
About Martek Biosciences
Martek Biosciences is a leader in the innovation, development, production and sales of high-value products from microbial sources that promote health and wellness through nutrition. The company is the world's leading provider of algal DHA omega-3 with its flagship product, life'sDHA, a sustainable and vegetarian source of algal DHA omega-3 important for brain, heart and eye health throughout life, for use in foods, beverages, infant formula, and supplements. The company also produces life'sARA(TM) (arachidonic acid), an omega-6 fatty acid, for use in infant formula and growing up milks. Additionally, Martek's subsidiary, Amerifit Brands, develops, markets and distributes branded consumer health and wellness products in major mass, club, drug, grocery and specialty stores and holds leading brand positions in all of its key product categories. For more information on Martek Biosciences, visit www.martek.com/. For a complete list of life'sDHA(TM) or life'sARA(TM) products, visit http://www.lifesdha.com/ or www.lifesdha.cn/. For more information about Amerifit Brands, visit http://www.amerifit.com/.
Sections of this release contain forward-looking statements. These statements are based upon numerous assumptions which Martek cannot control and involve risks and uncertainties that could cause actual results to differ. These statements should be understood in light of the risk factors set forth in the company's filings with the Securities and Exchange Commission, including, but not limited to, the company's Form 10-K for the fiscal year ended October 31, 2009 and other filed reports on Form 10-K, Form 10-K/A, Form 10-Q and Form 8-K.