Company Merger
ANNOUNCEMENT – COMPANY MERGER
19TH May 2006
The operations of Nelson based extraction company Extract Solutions Ltd are to be merged with those of one of its founding partners, Nutrizeal Ltd. following a buy-out of the shares. Nutrizeal (http://www.nutrizeal.com/) manufactures from natural products, a range of freeze-dried bulk powders and extracts for use as both human and animal health supplements. It also produces hard-gel capsules and bottles of natural ingredient blends for customers in Australia, Europe and USA. Nutrizeal helped establish Extract Solutions Ltd in 2002 as a joint venture with the hop industry. The supercritical fluid extraction plant is unique in New Zealand and the largest of its kind in the southern hemisphere. The first extract was produced from hops in June 2003 using pure carbon dioxide under extreme pressures as a natural solvent. Since then a growing range of herbal and marine products have been successfully extracted at the plant.
Board chairman of Nutrizeal, Kim McGlashen, commented that the merger created the opportunity to consolidate the operations of the two companies under one management team. He says, “Nutrizeal has been manufacturing products for the health supplement market since 1995. During this time the company has kept a low profile while it quietly built greater capacity and new capabilities. In 2005 Nutrizeal completed construction of a new, purpose-built manufacturing facility adjacent to the extract plant at Appleby. The merger with Extract Solutions is a natural progression as the company develops new high value plant, animal and marine extracts.”
19TH May 2006
The operations of Nelson based extraction company Extract Solutions Ltd are to be merged with those of one of its founding partners, Nutrizeal Ltd. following a buy-out of the shares. Nutrizeal (http://www.nutrizeal.com/) manufactures from natural products, a range of freeze-dried bulk powders and extracts for use as both human and animal health supplements. It also produces hard-gel capsules and bottles of natural ingredient blends for customers in Australia, Europe and USA. Nutrizeal helped establish Extract Solutions Ltd in 2002 as a joint venture with the hop industry. The supercritical fluid extraction plant is unique in New Zealand and the largest of its kind in the southern hemisphere. The first extract was produced from hops in June 2003 using pure carbon dioxide under extreme pressures as a natural solvent. Since then a growing range of herbal and marine products have been successfully extracted at the plant.
Board chairman of Nutrizeal, Kim McGlashen, commented that the merger created the opportunity to consolidate the operations of the two companies under one management team. He says, “Nutrizeal has been manufacturing products for the health supplement market since 1995. During this time the company has kept a low profile while it quietly built greater capacity and new capabilities. In 2005 Nutrizeal completed construction of a new, purpose-built manufacturing facility adjacent to the extract plant at Appleby. The merger with Extract Solutions is a natural progression as the company develops new high value plant, animal and marine extracts.”
posted by Dr. Norman Phillips at
4:50 PM
