Mannatech, Incorporated, a leading developer and provider of dietary supplements and skin care solutions, announced today it will begin selling products in Singapore in the fourth quarter of 2008. Among these products will be the company's Advanced Ambrotose(R) capsules and powder, Ambrotose AO(R) capsules, MannaMatrix(TM) caplets (multi-vitamin/mineral supplement known as PhytoMatrix(R) caplets in the U.S.) and Plus(TM) tablets.
Initially, the Singapore business will be operated and managed from Mannatech's Australian headquarters with the Singaporean office expected to open sometime in the first half of 2009.
"Given our track record for global expansion success, we are looking forward to entering the Singapore market where we know there is already an interest in Mannatech products," said Wayne Badovinus, president and CEO of Mannatech. "Opening in Singapore is a natural progression for Mannatech since we have had success in numerous Asian markets. Singapore's culture and traditions relative to personal health align well with Mannatech's emphasis on the combination of optimal health and financial wellness."
Singapore is a main island and a series of smaller islands with a total area of 240 square miles. More than 500,000 people (11 percent of the population) are recorded as being active in direct selling. In 2006, the total value of the direct selling market was reported to be $302 million (U.S.).
Mannatech, Incorporated, is a global wellness solutions provider of innovative, high quality, proprietary nutritional supplements, topical and skin care products, and weight management products sold through independent associates and members located in the United States and the international markets of Canada, Australia, the United Kingdom, Japan, New Zealand, the Republic of Korea, Taiwan, Denmark, Germany, and South Africa. For more information, please visit www.mannatech.com or www.allaboutmannatech.com.
Please Note: This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by use of phrases or terminology such as "intend" or other similar words or the negative of such terminology. Similarly, descriptions of Mannatech's objectives, strategies, plans, goals or targets contained herein are also considered forward-looking statements. Mannatech believes this release should be read in conjunction with all of its filings with the United States Securities and Exchange Commission and cautions its readers that these forward-looking statements are subject to certain events, risks, uncertainties, and other factors. Some of these factors include, among others, Mannatech's inability to attract and retain associates and members, increases in competition, litigation, regulatory changes, and its planned growth into new international markets. Although Mannatech believes that the expectations, statements, and assumptions reflected in these forward-looking statements are reasonable, it cautions readers to always consider all of the risk factors and any other cautionary statements carefully in evaluating each forward-looking statement in this release, as well as those set forth in its latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and other filings filed with the United States Securities and Exchange Commission, including its current reports on Form 8-K. All of the forward-looking statements contained herein speak only as of the date of this release.