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Be the first with the news that moves the market- Else Nutrition (BABY) has announced a five-year production MOU with an unnamed US-based manufacturer
- The company plans to invest approximately C$660,000 in packaging and production lines at the new facility
- A definitive production agreement is expected to be signed in the first quarter of 2020
- Else Nutrition’s shares are currently up 7.81 per cent to C$0.69, with a market cap of C$46.32 million
Else Nutrition Holdings (BABY) has signed a five-year production memorandum of understanding (MOU) with a US baby formula manufacturer.
The company, which is focused on developing and marketing alternatives to dairy-based infant nutrition, has not yet named the MOU partner.
Else Nutrition plans to manufacture its proprietary infant powder, toddler formula and children’s nutritional drinks at a newly established facility.
It also plans to invest roughly C$660,000 in dedicated packaging and production lines for its products.
“This world class facility provides for hands-on monitoring of each batch, ensuring increased testing accuracy and the highest quality in finished products,” said CEO and Co-Founder of Else Nutrition, Hamutal Yitzhak.
“Having such high-caliber long-term production in the US ensures we can efficiently meet future demand in this key global market while adhering to our strict quality standards.”
Else Nutrition and its MOU partner are expected to sign a definitive production agreement in the first quarter of 2020.
The company’s shares are currently up 7.81 per cent to C$0.69, with a market cap of C$46.32 million.
