Vancouver-based stevia supplier GLG Life Tech is moving into the monk fruit (luo han guo) sweeteners market and expects to have commercial quantities of high-purity extracts available later this year.
A judge has dismissed a shareholder lawsuit filed in 2011 against stevia firm GLG Life Tech Corporation for alleged failures to disclose the decline of its relationship with Cargill, then its largest customer.
Loss-making stevia supplier GLG Life Tech has reassured investors that it is still “very much” in business in a Q&A document designed to answer questions about its financial affairs.
Stevia supplier GLG Life Tech has denied that it failed to disclose certain information required under federal securities laws, after a New York-based national law firm announced it was investigating the company’s statements to shareholders.
Stevia supplier GLG Life Tech saw sales plummet 92% in the third quarter, after end customers complained about aftertaste problems when formulating with the sweetener, the company said.
GLG Life Tech has signed a three-year agreement with Brazil-based Grupo M. Cassab for distribution and marketing of its stevia extracts in Brazil and Argentina, the company has said.
GLG Life Tech and Weider Global Nutrition have agreed to drop lawsuits against each other and continue selling their stevia-derived sweeteners separately, dissolving their Sweet Naturals partnership.
GLG Life Tech has announced six new stevia seed strains said to have a high content of Rebaudioside A (rebiana) – a development it says will enable direct planting in the fields.
GLG Life Tech Corporation may open up stevia plants in other countries following the announcement that it has begun operations at two new processing facilities for the sweetener in China.
GLG Life Tech Corporation said it had underestimated the capacity of its two new stevia processing plants in China as projections have now nearly doubled.
