GLG Life Tech Corp., a vertically integrated leader in the agricultural and commercial development of high-quality stevia and all-natural and zero-calorie food and beverage products, announces the development of a strategic collaboration with China National Cereals, Oils, and Foodstuff Corp. for the Chinese market. The two companies have been discussing a collaboration in stevia for the past number of months with a focus on developing products that will cater to promoting healthier food and beverage products and improving the social welfare of the Chinese people. The collaboration between the two companies will focus on three areas: healthier food and beverage products, technology and investments. GLG expects that an official Letter of Intent will be signed in the coming weeks between the two companies that will detail the three areas of collaboration.
China is one of the countries in the world today with the largest populations of diabetics, with approximately 90 million diagnosed with this disease and the approximately 200 million people classified as obese. Both parties are focused on the health and social well-being of Chinese people in the development of products sweetened with stevia for zero or low calories.
Dr. Luke Zhang, chairman and CEO of GLG, said, "I am delighted to be working on this collaboration with COFCO as we share the same mission to use stevia for the better health and welfare of the Chinese people through the development and distribution of zero- and low-calorie products as well as the development of stevia agriculture for the improved welfare of the Chinese farmer. We will continue to update our shareholders on this major strategic development in the coming weeks."