Not sure which bedpost this belongs on, so I'll stick it here:
July 20, 1999 09:07
Gum Tech Certified to Produce Kosher Gums for
Pharma Green
PHOENIX, July 20 /PRNewswire/ -- Gum Tech International, Inc. (Nasdaq: GUMM)
announced today that it has received kosher certification by the Orthodox Union for
the functional chewing gums it produces for Pharma Green Ltd.
Pharma Green Ltd. is the functional food division of the Pharm Up Group, a 32 year
old conglomerate of pharmaceutical and health product distributors in Israel and
abroad. The Pharm Up Group specializes in marketing health products of local and
multinational manufacturers. Pharm Up, with sales of over $95 million per year,
distributes through pharmacies, drug stores, chain stores, medical institutes, and
health organizations.
Pharma Green Ltd. has been distributing seven functional gums exclusively
developed and manufactured for it by Gum Tech since September, 1998. Since
then, it had been successfully conducting an aggressive marketing campaign
designed to secure a leadership position in the overall Israeli chewing gum market.
Since launching the seven gums, Pharma Green has grown to be the largest
functional gum distributor in Israel.
"Kosher certification is absolutely critical for selling food and health care products
in Israel. With kosher certification, we expect that our business with Gum Tech will
continue to expand rapidly, more than doubling in the near term," said Motti Cohen,
General Manager for Pharma Green Ltd. Current purchases from Pharma Green
since launching the product have totaled approximately $1 million dollars.
Gum Tech develops, manufactures, and distributes specialty chewing gum
products designed to provide health benefits to consumers. The company partners
with major food, pharmaceutical, or marketing companies to develop and
manufacture gum products under contract manufacturing agreements and supports
its own line of branded gums. Gum Tech operates one of the most advanced
chewing gum manufacturing plants in the U.S. and is the only stainless steel gum
manufacturing facility registered with the Food and Drug Administration to
manufacture gum with over-the-counter drug products.
Gum Tech is located at 246 East Watkins Street, Phoenix, Arizona 85004.
(Nasdaq: GUMM) E-mail: Brown@gum-tech.com
Gum Tech Forward-Looking Statement:
This news release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, including statements regarding the
Company's anticipated growth in business and future results of operations. These
forward-looking statements are based on the Company's expectations and are
subject to a number of risks and uncertainties, many of which cannot be predicted
or quantified and are beyond the Company's control. Future events and actual
results could differ materially from those set forth in, contemplated by, or
underlying the forward-looking statements. Factors that could cause actual results
to differ materially from the Company's expectations include less than anticipated
demand for the Company's chewing gum products, lack of market acceptance for
or uncertainties concerning the efficacy of ZICAM, a decrease in the level of
reorders from existing customers, financial difficulties encountered by one or more
of the Company's principal customers, difficulties in obtaining additional capital for
marketing, research and development, and other expenses, the possibility of
material charges incurred as a result of prior activities, aggressive pricing and
marketing efforts by rival gum manufacturers, unavailability of third- party material
products at reasonable prices, inventory obsolescence due to shifts in market
demand, and material litigation involving product liabilities and consumers issues.
SOURCE Gum Tech International, Inc.
/CONTACT: Brown Russell of Gum Tech International, Inc., 602-252-1617,
brown@gum-tech.com; or Colleen Tiffany of The Logan Consulting Group, Inc.,
716-244-7660, ctiffany@logan-group.com, for Gum Tech International, Inc./
/Web site: gum-tech.com
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