Martek Signs Sole-Source Supply Agreement with Milk Powder Solutions
COLUMBIA, Md., Aug. 20 /PRNewswire-FirstCall/ -- Martek Biosciences Corporation (Nasdaq: MATK) announced today that it has entered into a multi-year, sole-source supply agreement with Milk Powder Solutions, based in Australia. Under the terms of the agreement, Martek will serve as Milk Powder Solutions' exclusive supplier for all of its ARA needs for infant formula products in China and Vietnam under the Gold Cow brand name.
"This new agreement with Milk Powder Solutions is another important step in Martek's effort to expand its international presence in the infant formula market," said Ethan Leonard, vice president of pediatric nutrition for Martek. "We believe this agreement again demonstrates that companies around the world continue to recognize the importance of adding Martek's trusted source of ARA to products for infants and children."
Naturally present in human breast milk, ARA (arachidonic acid) is a fatty acid important to infant development and growth. Clinical studies have demonstrated numerous benefits, including improved mental and visual development, for infants receiving infant formula supplemented with ARA and DHA (docosahexaenoic acid), another fatty acid important to infant development. Martek's blend of DHA and ARA, life'sDHA & life'sARA(TM), is the only source of these nutrients currently used in U.S. infant formula, and is present in more than 95 percent of infant formula sold in the U.S. Additionally, Martek is a leading global supplier of DHA and ARA and infant formulas containing Martek's nutritional oils are available in more than 75 countries worldwide.
Martek Biosciences Corporation (Nasdaq: MATK) is a leader in the innovation and development of DHA omega-3 products that promote health and wellness through every stage of life. The company produces life'sDHA, a sustainable and vegetarian source of the omega-3 fatty acid DHA (docosahexaenoic acid), for use in foods, beverages, infant formula, and supplements. The company also produces life'sARA (arachidonic acid), an omega-6 fatty acid, from a sustainable, vegetarian source, for use in infant formula. For more information on Martek Biosciences Corporation, visit http://www.martek.com.
The Milk Powder Solutions Company is a specialized dairy ingredient supplier. They have developed a range of unique dairy products for industrial and domestic use. Milk Powder Solutions' objective is to utilize Australian and selected international regions that can offer superior clean dairy products competitively priced in very large volumes. For more information please visit www.milkpowder.com.au.
Sections of this release contain forward-looking statements. These statements are based upon numerous assumptions which Martek cannot control and involve risks and uncertainties that could cause actual results to differ. These statements should be understood in light of the risk factors set forth in the company's filings with the Securities and Exchange Commission, including, but not limited to, the company's Form 10-K for the fiscal year ended October 31, 2008 and other filed reports on Form 10-K, Form 10-K/A, Form 10-Q and Form 8-K.
