INDIANAPOLIS, IN--(Marketwired - Sep 10, 2013) - Stevia Corp. (
Stevia Corp. successfully completed the first phase of its commercialization program achieving its targeted $3million revenue over the six month period ended June 30, 2013. The company is now focused on expanding its proven business model and aims to double production by the spring of 2014.
George Blankenbaker, Stevia Corp. President, comments, "Following Stevia Corp's successful harvest during the spring of 2013, our project was featured in the Vietnam Journal of Finance and a 1/2 hour nationally televised program. This recognition provided additional credibility and we are now being approached by international companies to grow for them as well as discussing potential joint ventures to operate processing factories in Vietnam. We have completed test shipments to both South Korea and Europe proving that we can meet international standards and we are preparing to enter into long-term supply agreements with buyers from both South Korea and the Netherlands."
Mr. Blankenbaker further explains, "Because Stevia Corp's model has proven to be a win-win for all parties and the farmers who participated earned higher revenues, we have the full support of the Vietnamese government and there is a waiting list of farmers who want to participate in our program. This enables us to select the best operators and maintain our high quality control standards as we expand. These key factors provide the foundation and impetus for us to rapidly expand our production to meet the growing demands of international buyers."
Blankenbaker concludes, "To successfully operate in a new market, it generally takes a few years for a company to establish itself and become well entrenched in the region while garnering the confidence and support of all parties, including the local farm communities as well as the local and national governments. But once achieved, it creates a strong foundation for rapid development. Stevia Corp has now attained this milestone and is preparing for the next phase of rapid expansion."
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.steviacorp.us.
About Stevia Corp. (
Stevia Corp. is a farm management company focused on best practice agronomic competency in order to deliver high value crops through proprietary plant breeding, excellent agricultural methodologies and innovative post-harvest techniques. For more information visit: www.steviacorp.us.
About the Stevia Industry Sector
Within two years of the USA market opening, Nielsen-based retail consumption data indicated almost $1 billion of retail sales for the sector. In 2010, stevia products were launched across thirty-five countries and in 38 categories. Zenith International estimates worldwide sales of stevia extract reached 3,500 tons in 2010 with an overall market value of $285 million and forecasts the global market for stevia will reach 11,000 tons by 2014. For more information visit: www.steviacorp.us.
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, doubling production by spring 2014, potential long term supply agreements, expansion of production, demands of international buyers, worldwide sales of stevia extract and sweetened products, growth of stevia leaf production and growth of the stevia global market. 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.