SEATTLE, WA--(Marketwired - Oct 16, 2013) - Plandaí Biotechnology, Inc. (
The tea industry in South Africa collapsed in the 1990's when the government subsidies were abolished. The large plantations were abandoned and, in the case of the Senteeko Estate, eventually purchased by the government and then given to the Shamile Community as part of a land claim settlement. With tea farming being labor intensive, the higher labor cost in South Africa resulted in a commodity that was not competitive in the world market. Plandaí's model, which transforms a commodity into a valuable nutraceutical and pharmaceutical extract, is less price sensitive as the labor component is minimized. Plandaí has recently completed construction of a 8,000m2 factory in South Africa which will begin producing 60 tons per annum of finished Phytofare™ Catechin extract in January 2014 from the initial 300 hectares of harvested tea leaf.
Roger Duffield, Chairman and Chief Executive Officer of Plandaí Biotechnology, commented, "We believe that our business model can be adapted to many agricultural regions and products as worldwide competition in commodities drives down prices and the standard of living. Creating value added products is the perfect way to revitalize these extinct industries. The benefit to businesses such as Plandaí is that we can acquire production capacity at a relative bargain, stimulate the local economies, and receive valuable assistance from the government."
Plandaí has posted a copy of the full article on its website, www.plandaibiotech.com, where additional updated photos on the factory are also available.
About Plandaí Biotechnology, Inc.
Plandaí Biotechnology, Inc. and its subsidiaries develop highly bioavailable, phytonutrient rich extracts which are being utilized to deliver a new family of drugs to safely and affordably treat a multitude of diseases and conditions. Plandaí Biotechnology controls every aspect of the process, from growing the raw materials on its farms in South Africa, to producing its patented Phytofare™ extracts in-house, allowing the Company to guarantee the continuity of supply as well as quality control throughout the entire process. Targeted industries for the Company's products include beverage, cosmeceutical, wellness, nutraceutical, anti-aging, and pharmaceutical. For more information, please visit http://www.plandaibiotech.com.
Safe Harbor Statement
The information provided may contain forward-looking statements and involve risks and uncertainties. Results, events and performances could vary from those contemplated. These statements involve risks and uncertainties which may cause actual results, expressed or implied, to differ from predicted outcomes. Risks and uncertainties include product demand, market competition, and Plandaí's ability to meet current or future plans. Investors should study and understand all risks before making an investment decision. Readers are recommended not to place undue reliance on forward-looking statements or information. Plandaí is not obliged to publicly release revisions to any forward-looking statement, to reflect events or circumstances afterward, or to disclose unanticipated occurrences, except as required under applicable laws.