Eevia Health Plc reorganizes distribution in North America
Eevia Health Plc’s (”Eevia” or ”The Company”) has reorganized distribution in North America with an objective to have a more transparent the value chain beyond the distributors, with shorter lead times to end clients and reduced logistic costs.
Eevia decided early 2023 on a new policy to always know the end client of the sales in all territories. This requires transparency with our distributors. We are therefore critically evaluating distributors that do not reveal who the end customer is and prioritizing the collaboration with distributors which works on an open basis. In entering new distribution relationship, Eevia will seek to work with distributors that work with transparency, such as our new distributor Breko, Germany.
Consequently, Eevia is entering 2024 Eevia working with Select Ingredients as a distributor in the US, while the distribution agreement with Barrington has been terminated effective 31.12.23 and Barrington’s client relationships have been transferred to Eevia’s new Commercial Director Erik Eide.
Eevia is initiating collaboration with a local New Jersey company specializing in forwarding of dietary ingredients under the USDA NOP program, which enables Eevia to get products imported to the continent and to hold buffer stock in New Jersey with all transaction certificates issued (including the NOP organic certificate) ready for customers.
Hence, the forwarding agreement enables Eevia to move larger volumes of buffer stock from Finland to the US by sea freight in containers, avoiding a much more expensive air freight. Air freight is typically five times more expensive per kg of product than sea freight. Similarly, the efforts related to handling, customs, certification procedures become much more cost effective as this can be done on larger volumes with less time pressure.
Erik Eide, Commercial Director in Eevia Health is pleased with the development: “The ability to offer FOB prices from New Jersey will make Eevia more competitive in the North American market. It will support our partners in North America to improve our value proposition in terms of rapid response and reliability of supply, while we reduce logistical costs.”
For further information, please contact:
Stein Ulve, CEO, Eevia Health Plc
Email: stein.ulve@eeviahealth.com or investor@eeviahealth.com
Telephone: +358 400 22 5967
INFORMATION ABOUT EEVIA HEALTH PLC
Eevia Health Plc, founded in March 2017, addresses significant health problems with bioactive compounds extracted from plant materials. The materials are primarily wild harvested from the pristine Finnish and Swedish forests near or above the Arctic Circle. The extracts are sold B2B as ingredients to dietary supplements and food brands globally. These global brands utilize the ingredients in their consumer product formulas.
Eevia Health is a manufacturer of 100% organically certified plant extracts. Although a significant product, Elderberry extract, is made from cultivated berries, most of Eevia’s other raw materials, such as bilberry, lingonberry, chaga-mushroom, and pine bark, are wild-harvested in a sustainable fashion.
Eevia Health operates a modern green-chemistry production facility in Finland. Manufacturing natural ingredients near the raw material harvest areas, Eevia offers a short value chain with an environmentally friendly carbon footprint, competitive pricing, and extreme transparency. Eevia listed its shares at Spotlight Stock Market in Sweden in June 2021, with the short name (ticker) EEVIA.
To learn more, please visit www.eeviahealth.com or follow Eevia Health on LinkedIn@EeviaHealth.
