SOURCE: Global Food Technologies, Inc.

September 21, 2007 08:00 ET

Global Food Technologies Announces Cooperation Agreement With CIQA to Improve Food Safety and Quality in China

BEIJING--(Marketwire - September 21, 2007) - After new rounds of meetings and food safety conferences, Global Food Technologies ("GFT") announced the advancement of its food safety business in the People's Republic of China ("PRC") by gaining the support of the China Entry-Exit Inspection and Quarantine Association ("CIQA"). Ge Zhirong, Chairman of CIQA, stated, "It is important to promote food safety and socially responsible activities. The CIQA embraces joint cooperation with GFT and the iPura™ food safety service program."

GFT President & CEO, Keith Meeks, stated, "The leaders in China understand the issues and societal demands of providing safe, high quality food for citizens of their country and for exporting to a hungry world. They recognize the deficiencies that exist in certain areas and are taking action to correct them. Starting with our program of daily onsite service for the seafood industry, we expect to implement and execute comprehensive food hazard controls and programs that will substantially improve the safety and quality of food products. China seafood production represents over 30% of world production totals and accounts for around 23% of U.S. seafood imports."

Min Han, GFT's representative in the PRC, reported, "GFT has been successful in building relationships with important government and industry leaders. These meetings have resulted in frameworks and agreements for cooperation with national food safety authorities, academia, and the seafood industry in China. The CIQA is the food safety authority in matters that are important to GFT's commercial success in China. Productive meetings with seafood processors and the association have put GFT in position to sign agreements with major seafood processors. We will visit major tilapia and shrimp processors in the south before we make a final decision on which companies are the biggest and the best to serve as iPura™ licensees."

Art Agnos, GFT board member, reported, "As a former public official in state and city government, I have made several trade missions to China. This was an especially productive trip. The China International Food Safety Conference (Beijing, September 12-13) was the Company's first exposure to international food regulators and food safety experts. Our CEO, Keith Meeks, made a terrific presentation, 'Achieving the Highest Standard in Food Safety,' which had a strong impact on the large audience. Our director of science, Aaron Ormond, strongly reinforced the CEO's keynote speech with his presentation, 'Innovations in Food Safety.' We should all be very pleased with the doors that opened to us in Beijing. It appears that Chinese food safety experts are anxious to work with GFT and that management could be even busier very soon."

Information on GFT is available at: www.globalfoodtech.com

Forward-Looking Statements

With the exception of historical information, the statements set forth above include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. These forward-looking statements relate to matters such as, among other things, product development and acceptance, our anticipated financial performance, business prospects, technological developments, new products, future distribution or license rights, international expansion, possible strategic alternatives, new business concepts, capital expenditures, consumer trends and similar matters. A variety of factors could cause GFT's actual results and future experiences to differ materially from the anticipated results or other expectations expressed in these forward-looking statements, and the reader is directed to GFT's filings with the Securities and Exchange Commission for a discussion of important factors that could cause actual results to differ materially from those in the forward-looking statements. GFT does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances and cannot assure that projected results or events will be achieved.

Contact Information

  • Investor Relations Contact:
    Michael Shaw
    (559) 589-0100
    Email Contact