NutraCea, a world leader in stabilized rice bran (SRB) nutrient research and technology, announced today that it has finalized an agreement with Farmer's Rice Cooperative of Sacramento, California, through which the Company will begin to directly service 27 customers, many of them large food companies, including two Fortune 100 Companies. All of the new customers were previously supplied with NutraCea's proprietary stabilized rice bran from the Cooperative. The earlier agreement placed limitations on the rice bran quantities these customers could receive due to limitation in supplies; the new agreement whereby NutraCea will supply directly to the new customers will commence immediately.
"We are pleased to report that we are now able to directly supply and service these large food companies without any limitations," said Kody Newland, Senior Vice President of Sales of NutraCea. "As result of our having direct access to these customers, we expect to significantly increase our sales in 2009 to them."
NutraCea is a world leader in the stabilization of rice bran. The Company applies its proprietary and patented technologies during the rice-milling process to stabilize the rice bran, which it then uses to manufacture ingredients and products that it distributes to a growing roster of customers around the world. NutraCea's products include nutritious, high-quality ingredients for human and animal food companies; nutraceuticals that promote health; and nutrient-dense rice bran products for humanitarian feeding efforts. The Company also has a growing market position in the stabilization and distribution of wheat bran, and it is increasingly engaged in the production of healthy edible oils and derivative products. NutraCea is headquartered in Phoenix, Arizona, U.S.A., and it has more than 300 employees. For more information on NutraCea, please visit the Company's website at www.nutracea.com.
This release contains forward-looking statements, including, but not limited to, statements regarding the anticipated product availability throughout China and the future product sales volume. These statements are made based upon current expectations and actual results may differ from those projected, due to various risks and uncertainties. The Company does not undertake to update forward-looking statements in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information. Assumptions and other information that could cause results to differ from those set forth in the forward-looking information can be found in the Company's filings with the Securities and Exchange Commission, including the Company's most recent periodic reports.