NutraCea announces Asia purchase order
NutraCea (OTC: NTRZ), a maker of stabilized rice bran, announced before the opening that it received a purchase order from Cosway Corp., a 27-year-old network marketing company based in southeast Asia.
“They will be introducing Stabilized Rice Bran Plus in October 2007 and intend to develop and launch more products based on NutraCea's proprietary stabilized rice bran and value-added derivatives for the Southeast Asian market," Margie Adelman, NutraCea’s senior vice president of strategic business development, said in a press release. “They are gearing up to educate their vast network of distributors, which spans throughout many Southeast Asian countries, on the health benefits of stabilized rice bran.”
Cosway says it has 700,000 independent business owners in Malaysia, Indonesia, Singapore, Thailand, Taiwan and Hong Kong. It plans to open soon in India, Japan, Korea and Australia.
The order’s financial details were not disclosed.
Phoenix-based NutraCea also said before the bell that it is launching Dr. Vetz FlexBoost, a stabilized rice bran product that helps alleviate the pain and inflammation associated with arthritis, and helps to support and maintain optimal joint health in pets.
The launch includes a nationwide media campaign of 60 and 120 second television ads and an opening order from PetCo. Animal Supplies, Inc.
In morning trading, NTRZ shares are up 2.11%, or $0.03, at $1.45. Over the last 52 weeks, shares have ranged from $1.15 to $5.04.
