Natural Harmony Foods Completes East Coast Copacker Agreements.
The selected copackers are USDA approved and bring years of industry experience to their new role in producing and packaging SoyLean(R) brand products. Collectively, the copackers have produced for quick-serve restaurants such as the Wendy's chain, as well as for many of the leading U.S. foodservice companies. They also have produced value-added products for such leading food marketers as Tyson, Perdue, and ConAgra.
"Natural Harmony Foods has chosen to use copackers to preserve capital and allow management to focus time and financial resources on building product trial and brand awareness," said Sam Dewar, CEO and founder of Natural Harmony Foods. "Using copackers also allows us to more accurately predict overhead costs and reduce our products' time to market. Our particular copackers have the regulatory certification, established supplier relationships, and food industry contacts to get this job done efficiently while meeting our company's strict quality standards."
Natural Harmony Foods estimates that the Florida copacker has the immediate capability to produce 20 million pounds of uncooked SoyLean(R) products with a sales value of $50 million. The producers in Georgia and Pennsylvania each can produce 10 million pounds of fully cooked SoyLean(R) products specifically for retail sale; each of these outputs would have a retail sales value of $35 million.
Natural Harmony Foods owns the popular SoyLean(R) brand, which marries the taste and nutrition of natural, lean beef, chicken and pork with the health benefits of soy. The company's trial products were introduced in 2002 in Southern Florida Publix supermarkets, where they became the first meat products ever to gain U.S. government approval to include the soy heart health claim on their labeling.
For full retail commercial production, Natural Harmony Foods intends to launch a line of five products in the freezer case. These will include the company's signature SoyLean(R) Flame Broiled Beef Patties alongside four new items: SoyLean(R) Breakfast Sausage, SoyLean(R) Chicken Patties, SoyLean(R) Beef Meatballs, and SoyLean(R) Chicken Strips.
About Natural Harmony Foods
Natural Harmony Foods, Inc. (Pink Sheets: NHYF) is an innovative food company dedicated to producing healthy, flavorful, convenient foods that fit the lifestyles of individuals looking to make better, health conscious diet choices without sacrificing taste. For more information about Natural Harmony Foods, SoyLean(R) products, and helpful Internet links, please visit www.naturalharmonyfoods.com. NHYF Shareholders are encouraged to register on the "Investor Relations" page to receive ongoing Natural Harmony Foods news updates.
Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements'' as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. Natural Harmony Foods disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, and changes in our business strategies.
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|Date:||Oct 12, 2004|
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