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Stevia Corp. Updates Growth Scenario

 

Company Introduces Industry Expert George Blankenbaker as President

INDIANAPOLIS, IN--Stevia Corp. (OTCBB: STEV) ("Stevia Corp." or the "Company") is pleased to provide an update of recent corporate events. Pursuant to the closing of a share exchange transaction, the Company acquired certain rights relating to stevia production, including certain assignable exclusive purchase contracts and an assignable supply agreement related to stevia.

These rights include two grower supply contracts and three nursery fields in Vietnam. Seventeen test fields have been established in five provinces in the northern half of the country with a total propagation of 20 Ha (hectares) of which eight Ha is growing high value Reb-A (Rebaudioside A, the most valued steviol glycoside) of the Morita 2 and Morita 3 varieties and 12 Ha with a local variety under conversion to Reb-A.

Stevia leaf has long been valued because of its sweetening properties, but only in the past few years has the development of unique processes and technological innovations allowed for stevia to be extracted at purity levels offering a consistently reliable product in commercially viable quantities. U.K.-based Zenith International estimates worldwide sales of stevia extract reached 3,500 tons in 2010 with an overall market value of $285 million and is forecasting the global market for stevia to reach 11,000 tons by 2014 requiring the tripling of stevia leaf production at the farm level to keep pace with consumer demand.

Stevia Corp. is a farm management company focused on stevia agronomics and intends to invest aggressively in R & D and intellectual property acquisitions to enhance the provision of farm management services to its contract growers and other industry growers. The Company also plans to implement its exclusive processes to develop and expand its own stevia production in order to fully capitalize on these technological advances while further developing and refining farm management techniques and strategies to stay ahead of the competition.

In related news, the Company is pleased to announce the appointment of Mr. George Blankenbaker as Company President. As Managing Director of Blankenbaker Ventures Pte Ltd., he serves on the executive management and board of various companies in the agriculture, food distribution, financial, and real estate industries based in both Asia and the USA. Mr. Blankenbaker has been leading the development of high Reb-A Stevia farming in Vietnam, where he imported the Morita variety to trial in 2008 and in 2009 signed a contract to supply stevia leaf to PureCircle, the industry's leading refiner. Mr. Blankenbaker first became involved in commercial agriculture in 2002 when he began working with the Agri-Food Veterinary Authority of Singapore (AVA) to provide strategically important food supplies to Singapore. Prior to that Mr. Blankenbaker co-wrote and co-presented a bid for the U.S. Navy Subsistence Prime Vendor (SPV) Contract valued at USD $197 million covering three zones of Japan, Singapore, and Diego Garcia. The contract was awarded in 2002 and the Singapore and Diego Garcia portion is currently supported by the Rong-Yao group, a partner company based in Singapore.

During the 1990s Mr. Blankenbaker traded commodities and was an independent consultant and analyst for Standard Chartered Bank and Reuters and was on the implementation team that established Globex in Singapore linking the Singapore International Monetary Exchange with the Chicago Board of Trade. Mr. Blankenbaker began his career in Singapore in 1990 as a commodities analyst and also established a food import/export company which established itself as the leading importer and distributor of two categories before being merged into current operations. In 1986 Mr. Blankenbaker accompanied the Chairman of the finance department of his University to Asia for six months to study the development of the Asian Financial markets. Mr. Blankenbaker was raised on a farm in Indiana and received a BSc in Business Finance with an In-depth in Asian Political Science from Indiana University.

Further details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database. For more information visit: www.stevia.co.

About Stevia Corp. (OTCBB: STEV)
Stevia Corp. is a farm management company with a strong focus on high value stevia agronomics from plant breeding and best agricultural practices to post-harvest techniques. To date, the Company has acquired two grower supply contracts and three nursery fields in Vietnam. In 2010, stevia products were launched across thirty-five countries and 38 categories. Within two years of the USA market opening, Nielsen based retail consumption data indicated almost $1 billion of retail sales. Market research group, Mintel, has said it expects sales of stevia sweetened products to top $2 billion in 2011. For more information visit: www.stevia.co.

Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, growth of stevia global market, investment in research and development, acquisition of intellectual property, plans to expand stevia production, the development of new business opportunities, and projected costs, revenue, profits and results operations. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. 

 

 

Historical Press Releases

This website contains historical and archived press releases for Stevia Corp. The information in these press releases is historical in nature, has not been updated, and is current only to the date indicated in the particular press release. This information may no longer be accurate and therefore you should not rely on the information contained in these press releases. To the extent permitted by law, Stevia Corp. and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission.



Company Overview

Company Overview

Stevia Corp invests heavily in R&D and IP acquisition and manages its own propagation, nursery and plantations as well as provides services to contract growers and other industry growers…

Keys to Success

Company Overview

Stevia Corp delivers a full spectrum of agriculture solutions for stevia growers.