LONG BEACH, Calif., --- On April 1, 2003, Hauser, Inc. and its wholly owned subsidiaries, Botanicals International Extracts, Inc., Hauser Technical Services, Inc. and ZetaPharm, Inc., filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code with the U.S. Bankruptcy Court for the Central District of California. Zuellig Botanicals, Inc. (ZBI), which does business as BI Nutraceuticals, is not, and will not be a part of Hauser's bankruptcy filing.
ZBI, d/b/a BI Nutraceuticals, is a privately owned company that is neither controlled nor owned by Hauser. ZBI wishes to correct any misunderstanding that may have resulted from Hauser's press release of April 1, 2003, announcing its bankruptcy filing. The news release stated that Hauser does business using the d/b/a of BI Nutraceuticals; this is not accurate. Although ZBI does provide purchasing, accounting, administrative, sales and marketing services to Hauser's dietary supplements businesses, it is a separate, independently owned company and not part of the Hauser bankruptcy.
“We have had several inquiries regarding the impact of Hauser's Chapter 11 filing on BI Nutraceuticals,?stated Peter Hafermann, chief operating officer of ZBI. “That is easy to address because they are two separate companies. ZBI is not part of Hauser and will not be part of the Hauser bankruptcy. ZBI will continue to operate independently as it has in the past.?BR>
ZBI has long-standing relationships with its suppliers and customers in the acquisition and supply of high quality ingredients to the dietary supplements, pharmaceutical and food industries. ZBI will continue to maintain these relationships and support the market without interruption.
ZBI, founded in 1977 and headquartered in Long Beach, California, is a full service supplier of dietary supplement ingredients. ZBI manufactured products undergo quality testing under the Identilok?species identification process. ZBI products include whole herb powders and teas, standardized and drug ratio extracts, custom blends designed for specific indications, vitamins, minerals and other dietary supplements.
For more information contact Peter Hafermann at 310.669.2158 or [email protected]