2nd Apr 2020 15:23
(Alliance News) - Tekcapital PLC on Thursday said a new legislation introduced by health regulators in Mexico represent a "significant opportunity" for the sales of MicroSalt.
MicroSalt is a low-sodium salt developed and manufactured by Salarius. Tekcapital holds a 92% stake in Salarius.
The intellectual property investment company said the Mexican government body has introduced a new rule which requires salty snack brands from October 1, to add an "excess sodium" warning to the front of food packaging if the product exceeds 350 milligrams of sodium per 100 grams of product.
Tekcapital said MicroSalt contains around 50% less sodium than regular salt, adding that it believes it will help potential future sales for MicroSalt should Salarius access the Mexican snack food market which is expected to register around USD4 billion in sales in 2020.
"We are excited to see the commitment of the Mexican government to inform consumers and make it easier to select healthier products. There is a serious need for full flavour, low-sodium solutions in the food industry, and MicroSalt can help meet this challenge. Salarius is already in discussions with several leading snack manufacturers to serve the Mexican market," said Salarius Chief Executive Victor Hugo Manzanilla.
Tekcapital shares were trading 2.1% lower at 6.00 pence each on Thursday afternoon in London.
By Ife Taiwo; [email protected]
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