Technology Flavors & Fragrances, Inc. Announces New R&D Outsourcing Arrangement with Major Beverage Manufacturer
AMITYVILLE, N.Y.--(BUSINESS WIRE)--Sept. 16, 1999--Technology Flavors & Fragrances, Inc. (OTCBB:TFFI, TSE:TFF) (``TFF') announced today that the Company has formed a strategic alliance with a major beverage manufacturer to provide all research and development services on an outsourcing basis and develop an entire portfolio of new flavor products exclusively for that Company.
TFF is in discussions with other companies to provide similar alliances and R&D services. TFF believes this new service will increase its clients' profit margins by eliminating their costs for R&D personnel and equipment and provide more innovative products for them.
Philip Rosner, TFF's Chairman and Chief Executive, stated, ``We are extremely pleased with this first strategic alliance for this new service. We hope to form other business partnerships with new or existing companies as a method of increasing TFF's market share and improving our bottom line.'
Technology Flavors & Fragrances (TFF) develops, manufactures and markets flavors and fragrances that are incorporated by its customers into a wide variety of consumer and institutional products, including natural and artificial flavored beverages, confections, foods, tobaccos, pharmaceuticals, aromatherapy essential oils, perfumes, and health and beauty products.
TFF maintains facilities in Amityville, New York; Inglewood, California; Toronto, Canada; and Santiago, Chile.
Certain statements made herein, including without limitation, statements containing the words ``believes,' ``anticipates,' ``may,' ``intends,' ``expects,' and words of similar import constitute ``forward-looking' statements within the meaning of the Private Litigation Reform Act of 1995.
Such statements involve known and unknown risks, uncertainties, and other factors which may cause actual Company results to differ materially from expectations.
Such factors include the following: 1) technological, manufacturing, quality control and other circumstances which could delay the sale or shipment of the Company's products; 2) economic, business, and competitive conditions in the industry and technological innovations which could affect the Company's business; and 3) the Company's inability to protect its trade secrets or other proprietary rights, operate without infringing upon the proprietary rights of others and prevent others from infringing on the proprietary rights of the Company.
Certain of these factors are discussed in more detail in the Company's Annual Report on Form 10-KSB for the year ended December 31, 1998.
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Contact:
Technology Flavors & Fragrances, Inc., Amityville
Joseph A. Gemmo, VP/CFO, 516/842-7600 x301
or
Investor Communications Co.
John Blalock, 800/419-5211 |
