Bravo! Foods Signs Five-Year Manufacturing Agreement With Aseptic Solutions USA
100 Million Annual Production Volume Commitment
NORTH PALM BEACH, Fla., Feb 13, 2006 /PRNewswire-FirstCall via COMTEX/ -- Bravo! Foods International Corp. (BRVO : bravo foods intl corp) a brand development and marketing company that manufactures, promotes and distributes vitamin- fortified, flavored milks, announced today that it has signed a five-year production agreement for its various lines of shelf-stable, single-serve flavored milk beverages with Aseptic Solutions USA, LLC. Aseptic Solutions, a private company located in Corona, California, expects to receive approval from the United States Food and Drug Administration to produce aseptic low acid shelf-stable dairy products in HDPE plastic bottles by year-end. Upon receiving this approval, Aseptic Solutions will join only three low acid manufacturers in the United States presently authorized to produce aseptic low acid shelf-stable dairy products in plastic bottles.
Under the terms of the agreement, Bravo! has contracted with Aseptic Solutions to begin production, upon receipt of the FDA approval. Production is expected to commence in December 2006. The parties have agreed to an annual volume capacity of up to 100 million bottles and anticipate full production to ramp up quickly. The agreement also provides Bravo! with a right of first refusal for any additional production capacity Aseptic Solutions may bring online. The five-year commitment between Bravo! and Aseptic Solutions will begin from the date the FDA provides a "Letter of Non- Objection" to Aseptic Solutions.
Roy Warren, Bravo!'s Chief Executive Officer, said, "This production agreement is a milestone event for the Company as it substantially increases Bravo!'s contracted units capacity to close to 190 million units annually. "In addition," Mr. Warren commented, "the geographic location of Aseptic Solution's production facility on the west coast enhances our distribution capability as it compliments our current production capacity in the mid west. |
