MFIC Corporation and Blue Pacific Flavors & Fragrances Cease Efforts to Form Collaboration.NEWTON, Mass. -- MFIC MFIC Malaysian Furniture Industry Council MFIC Microfluidics International Corp. MFIC Military Flight Information Center MFIC Missionary Franciscan of the Immaculate Conception (religious order) Corporation (MFIC or the Company) and Blue Pacific Flavors and Fragrances, Inc. (Blue Pacific) announced today that they had ceased efforts toward the formation of a collaboration in the food, beverage ingredient, and flavor business. The parties had hoped to actively collaborate to create nanoprocessed food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. solutions incorporating MFIC's proprietary Microfluidizer[R] high shear processing equipment. Irwin Gruverman, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and Chairman of MFIC, commented, "Although both parties worked diligently dil·i·gent adj. Marked by persevering, painstaking effort. See Synonyms at busy. [Middle English, from Old French, from Latin d toward the formation of a collaboration, we were ultimately unable to come to acceptable terms due to divergent expectations." "Blue Pacific is a fine and innovative company. We anticipate a continuing relationship with them and supplying them with our equipment and, prospectively, to building systems to their specifications with a Blue Pacific "private label" for their customers", added Mr. Gruverman. Mr. Gruverman further commented, "Public statements by any party or publication to the effect that a joint venture, exclusive relationship or partnership existed between MFIC and Blue Pacific were both untimely and inaccurate. Blue Pacific will be a valued customer that we hope to work with extensively in the future." Forward Looking Statement: Management believes that this release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are subject to certain risks and uncertainties including statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Company's plan to attain and/or increase operating profitability and/or to achieve net profitability. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties that could cause actual results achieved by the Company to differ materially from those described in the forward-looking statements. The Company cautions investors that there can be no assurance that the actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various factors, including but not limited to the following risks and uncertainties: (i) whether the performance advantages of the Company's Microfluidizer[R] materials processing Articles on Materials processing include:
MMR abbr. measles, mumps, rubella vaccine nanoparticle production systems will be realized commercially, (iii) whether the Company will be able to increase its market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" and market share, (iv) whether the timing of orders will significantly affect revenues and resulting net income for particular quarters in a manner that could cause increased volatility in the Company's stock price, and (v) whether the Company will have access to sufficient working capital through continued and improving cash flow from sales and ongoing borrowing availability, the latter being subject to the Company's ability to comply with the covenants and terms of its loan agreement with its senior lender. MFIC CORPORATION MFIC Corporation, through its Microfluidics subsidiary, provides patented and proprietary high performance Microfluidizer[R] materials processing equipment to the biotechnology, pharmaceutical, chemical, cosmetics/personal care, and food industries. The equipment enables the manufacture and formulation of numerous nanomaterials and nanoscale At nanometer size. Any device only a few nanometers in size is nanoscale. See nanotechnology and nanometer. products. MFIC applies its 20 years of high pressure processing experience to produce the most uniform and smallest liquid and suspended solid structures available, and has provided manufacturing systems for more than 15 years. The Company is a leader in advanced materials Advanced Materials is a leading peer-reviewed materials science journal published every two weeks. Advanced Materials includes Communications, Reviews, and Feature Articles from the cutting edge of materials science, including topics in chemistry, physics, processing equipment for laboratory, pilot scale and manufacturing applications, offering innovative technology and comprehensive solutions for nanoparticles and other materials processing and production. More than 3,000 systems are in use and afford significant competitive and economic advantages to MFIC equipment customers. For more information please visit http://www.microfluidicscorp.com/ |
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