14th Nov 2011 07:00
PureCircle Limited
("PureCircle or "the Company")
Regulatory Approval for Stevia in the European Union
PureCircle (LSE: PURE), the world's leading supplier and marketer of high purity stevia products announces the EU Commission's regulatory approval for the use of steviol glycosides in foods and beverages in the European Union.
The regulation permitting the sale and use of steviol glycosides has now been published in the Official Journal of the European Union as of November 12th. Twenty calendar days following this publication date, the regulation will enter into force and will be binding in its entirety and directly applicable in the EU Member States, allowing for sale of products formulated with steviol glycosides as early as December 2nd.
The number of food and beverage products sweetened with stevia continues to grow rapidly across markets and categories. Globally over 1,000 stevia sweetened products have launched and are now available across five continents and all major food and beverage categories. Products are now beginning to launch in larger brands and becoming more established through line extensions and increasing marketing support. In the US, the annual retail sales of stevia sweetened products have grown to more than $1.2B. In the EU, France allowed for an interim approval of high purity stevia extract, Reb A, in 2009. Since then, stevia has enjoyed similar success with consumers. In July 2011, awareness of the sweetener among the general population had already reached 47%, up from 23% just a year earlier.
Magomet Malsagov, CEO of PureCircle Limited stated, "The approval of stevia in the European Union marks a major milestone for PureCircle and the industry. The EU is the largest single market for sweeteners in the world. EU approval effectively increases the current addressable market for high purity stevia by more than 50%. We have been actively preparing with our customers and partners for the opening of the market with our broad portfolio of solutions. In partnership with sugar industry leaders, Nordzucker and Tereos, we have established a strong foundation of EU coverage. Consumers in Europe, as in the rest of the world, will soon be able to enjoy great tasting foods and beverages made with our no-calorie, natural ingredients."
For more information: | |
PureCircle Limited (www.purecircle.com) |
|
Magomet Malsagov, CEO | +60 1 2388 8049 |
William Mitchell, CFO | +44 7974 005 163 |
RFC Corporate Finance (NOMAD) | +61 8 9480 2500 |
Steve Allen | |
About PureCircle
PureCircle (www.purecircle.com) is the global leader in the production of high purity stevia products. PureCircle is leading the industry with the development of a vertically integrated, sustainable and natural supply chain. Stevia is now being grown for PureCircle across South America, Africa, Asia, and the United States where it provides a sustainable cash crop for rural farming communities in each region. PureCircle has developed a broad portfolio of ingredient solutions and has pioneered such ingredients as Reb A, SG95, stevia/sugar combinations, and recently introduced breakthrough ingredient PureCircle Alpha for deeper calorie reductions. The company has also brought to market PureCircle Flavors, which were developed to enhance flavour and sweetness of other stevia sweeteners, sugar and HFCS. PureCircle has extended its reach through joint venture partnerships with leaders in the sugar industry, including Imperial Sugar in the US to create Natural Sweet Ventures, as well as Tereos and Nordzucker in Europe to create Tereos PureCircle Solutions and NPSweet A/S. As part of its leadership of the stevia industry, PureCircle has pioneered the industry trust mark Stevia PureCircle®, which educates consumers about the benefits of stevia and provides a strong base of trust for both consumers and food & beverage companies alike. The company has also developed the Global Stevia Institute (globalsteviainstitute.com) led by a global advisory board of internationally recognized health professionals with the mission of promoting accurate, science based information on stevia. PureCircle's global headquarters are in Kuala Lumpur, Malaysia. PureCircle shares are traded on the LSE AIM index.
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