LycoRed signs deal with Lithy, pursues expansion in China
LycoRed has announced that it has secured a multi-million US dollar agreement with Shanghai Lithy Fo…LycoRed has announced that it has secured a multi-million US dollar agreement with Shanghai Lithy Foods Material, a distributor of botanical extracts and nutrient pharmaceuticals for dietary supplements in China.
The two companies signed their long-term agreement on 3 September 2012.
LycoRed noted that Shanghai Lithy Foods will offer longstanding distribution channels in the China nutraceuticals industry. It will also focus on a number of important market segments emerging for the LycoRed.
Lithy chairman and general manager Lee Po said that the company is excited about the cooperation with LycoRed.
"We are raising the bar for both companies' committing to provide healthy, high-quality products through the use of the world's top ingredients," Po added.
Meanwhile, LycoRed announced that will host its first Shanghai Seminar on 21 October 2012, with speeches on Lyc-O-Mato by overseas academicians. The academicians will present the latest findings in natural tomato lycopene complex and vascular health. They will also discuss its impact on women's and men's health.
Lyc-O-Mato is a natural tomato lycopene complex extracted from phytonutrient-rich tomatoes. It has been designed for natural lycopene fortification and natural red coloring of foods and beverages.
LycoRed president Morris Zelkha said that the company's recent engagements to strengthen its position in Asia increase the need to employ extensive distribution services inside the Chinese market.
LycoRed supplies natural carotenoids and a wide range of other nutritional and coloring ingredients to the dietary supplement, functional food and beverage and nutricosmetic industries. It has regional facilities in the US, Europe, China and Israel.
Shanghai Lithy Foods Material, established in 2002 in Shanghai, is a leading supplier of natural plant extracts used in nutritional and dietary supplements.
