MBTG (.105) Millennium Signs Manufacturing Contract with Farmland Dairies, Division of General Electric to Manufacture Ready-To-Drink and Tube Feeding Products
Thursday, June 26 2008 1:31 PM, EST
PR Newswire "US Press Releases "
BASKING RIDGE, N.J., June 26 /PRNewswire-FirstCall/ -- Millennium Biotechnologies, Inc. a wholly owned subsidiary of Millennium Biotechnologies Group, Inc. (OTC Bulletin Board: MBTG) today announces that it has signed a three year Manufacturing Contract with Farmland Dairies based in Wallington, NJ (Farmland). Farmland aseptically manufactures selected brands and products including but not limited to: Farmland, Skim Plus, Welsh Farms milk-based products and Shelf-stable products including Chocolate Splash, Lil Milk, Parmalat, Pomi, and Special Request. Millennium's products will be manufactured at Farmland's Grand Rapids, Michigan facility.
"After a diligent selection process, we have selected Farmland for the quality of their aseptic facilities, their proximity to the heart of our current customer bases, and stringent standards of their kosher manufacturing facilities. They clearly have the capacity to meet our current needs with scalable capacity to accommodate our future growth both domestically, as well as internationally," stated Mark Mirken President and COO of Millennium. Mark Mirken also stated, "This long term product arrangement insures the availability of product for the rapid sales increase we are experiencing and expect to continue. As we grow and exceed the One-Hundred Thousand Case minimum we will engage in a reduced cost structure which will enhance our gross margins." "We are very excited to be the manufacturing partner for Millennium's broad line of aseptic ready to drink products. We believe their Ready-To-Drink Nutritional Supplement line is uniquely positioned to succeed and enjoy both current and expanded market penetration," stated Mark Sherman, VP of Aseptic Operations, Farmland Dairies.
About Farmland Dairies
Farmland Dairies brand names include Farmland, Parmalat, Lil' Milk, Pomi, and Welsh Farms. In addition to fresh and shelf-stable milk, cream, half & half, drinks juices, and licenses Pomi Tomatoes. The company's milk and milk products are the market leaders in metro New Jersey and New York area. Farmland currently has 450 employees and revenues $310M in 2007.
About Millennium
Millennium's six marketed products form its advanced line of nutritional formulas. Resurgex Select(R) is a whole foods-based, calorically dense, high-protein nutritional formula developed for cancer patients undergoing chemotherapy or radiation treatments. Resurgex(R) and Resurgex Plus(R) are specialized, anabolic nutritional supplements rich in antioxidants that provide nutritional support post-treatment. Millennium also created Surgex(TM) sports nutrition formula to address the nutritional concerns of professional, Olympic, and amateur elite athletes. These athletes often experience similar symptoms post-workout to those battling immuno-compromised conditions, such as fatigue, loss of lean muscle, oxidative stress, and reduced immune function. Resurgex Essential(TM) and Resurgex Essential Plus(TM) are comprehensive, calorically dense formulas that meet and succeed the nutritional requirements of the assisted living community.
Statements in this news release regarding future financial and operating results, future growth in R&D programs, potential applications of the Millennium's technology, opportunities for the Millennium, and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words 'will,' 'believes,' 'plans,' 'anticipates,' 'expects,' 'estimates,' and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements including: limited operating history, need for future capital, risks inherent in the development and commercialization of potential products, protection of Millennium's intellectual property, and economic conditions generally. Additional information on potential factors that could affect results and other risks and uncertainties are detailed from time to time in Millennium's periodic reports, including Forms 10-KSB, 10-QSB, 8-K, and other forms filed with the Securities and Exchange Commission ('SEC'). Millennium Biotechnologies, Inc.
Contact: Frank Guarino
Millennium Biotechnologies, Inc.
908-604-2500
SOURCE Millennium Biotechnologies, Inc.
