Since the launch of its initial consumer products, AN0C has received growing interest from international customers and potential customers to provide stevia technical help or actual food and beverage formulations to develop zero- or low-calorie, naturally sweetened food and beverage products.
The new company will be headed by James Chen who has more than 30 years of consumer beverage and food formulation experience and is responsible for developing many leading food and beverage products in Asian markets including China and Japan. The vice president of technology will be Kevin Li who has been working as GLG's vice president of technology and chief engineer. Mr. Li has more than 10 years of experience in the stevia industry and has been involved in many of the GLG China patents developed in the last three years.
All solutions and formulations provided to customers will be natural based—natural sweeteners, natural flavors and natural colors.
AN0C Stevia Solutions customer mandate is to focus on customer opportunities internationally. The company is already working on customer opportunities in the Middle East and India, and expects to be working on customer opportunities in other parts of the world with GLG's existing stevia distributors or through direct customer inquiries.
The new company will be a 100% owned subsidiary of AN0C Hong Kong and will also be incorporated in Hong Kong. Under the shareholder's agreement GLG will have the right to appoint two directors and China Agriculture and Healthy Foods Company (CAHFC) will have the right to appoint one director.