SOURCE: Global Food Technologies, Inc.

July 12, 2005 06:00 ET

Global Food Technologies, Inc. Discusses Results of Its Successful Trade Mission to Chile

HANFORD, CA -- (MARKET WIRE) -- July 12, 2005 -- Global Food Technologies, Inc. (GFT), a privately held biotechnology company targeting the food safety market, announced today the results of its successful trade mission to Chile. Company executives met with Chilean Government entities, private industry, academic and technological centers, the metallurgic industry and seafood processing plants throughout the country.

The purpose of the mission was to generate industry and government interest and support. Both industry and government representatives enthusiastically embraced Global Food Technologies' revolutionary seafood processing technologies and its proprietary BEST Seafood Processing Systems™.

During a press conference held in the city of Concepcion and organized by CORFO (Corporacion de Formento de la Produccion), the Chilean government's economic development agency, Mr. Omar Hernandez, Regional Director of CORFO/Bio BIO Region, said, "We are delighted to have Global Food Technologies and the company's revolutionary processing systems offered to the local seafood industry. Implementing this technology will give Chilean seafood processing companies a distinct competitive advantage in the global marketplace."

Keith Meeks, President of Global Food Technologies, Inc., stated, "We are very excited about the joint testing agreements that we have initiated with Chile's seafood industry. We were extremely pleased with the reception we received at every level during our visit. CORFO has been a great help, they arranged our entire schedule and attended our meetings with the country's largest processors." He added, "Successful adoption of our technology in Chile will be a validation for the company's BEST Seafood Processing Systems™. The Chilean seafood processing industry is focused on high-quality products, and our systems can improve their quality and shelf-life while allowing them to showcase the world's highest standard in seafood safety."

As a result of the enthusiastic discussions held in Chile, Global Food Technologies, Inc. is in the process of establishing a subsidiary company in the country. Additionally, representatives from many of the largest seafood processing plants, as well as government officials from Chile, are planning a reciprocal trade mission to Global Food Technologies' research and development facilities in Pocatello, Idaho.

Chile's aquaculture industry generated over US $1.4 billion in 2004. Salmon and trout farming are the leading activities, making Chile the second-largest world producer and exporter. Chile's main export markets are Japan, the U.S. and the European Union (EU), which together account for 95% of Chilean salmon exports. Most Chilean processing plants are investing heavily to incorporate technology that can accommodate the country's current production and scale to meet the production goals the industry has set for itself by the year 2010.

About Global Food Technologies, Inc.

Global Food Technologies, Inc. is a private corporation with offices in Hanford and Newport Beach, California; Pocatello, Idaho; and Ho Chi Minh City, Vietnam. GFT is engaged in the development, marketing and commercial launch of its proprietary BEST Seafood Processing Systems™, a food processing technology designed to kill pathogens, such as salmonella, living in poultry, meat and seafood. Information on the Company is available at its website: http://www.globalfoodtech.com. For further information, please contact: Keith Meeks, President of Global Food Technologies, Inc., at 559-589-0100, kmeeks@globalfoodtech.com

About CORFO

The Corporation for Promotion of Production (CORFO), created in 1939, is the agency of the Chilean State responsible for promoting the nations manufacturing and production activities. More information is available at: http://www.corfo.cl/

Contact Information

  • Global Food Technologies
    Keith Meeks, President
    113 Court Street
    Hanford, California 93230
    Phone: (559) 589-0100
    Fax: (559) 589-0111
    Email Contact

    Executive Offices:
    4100 Newport Place
    Newport Beach, California 92660