Bayn undersigns two Letter of Intent and expands its distribution partnership in Switzerland and Greece
Bayn Europe signed a Letter of intent (LoI) with a Swiss and a Greek company, Prochem AG and Paxman respectively, after long discussions and negotiations about market entry strategies in the respective countries.
Both LoI include distribution of Bayn solution product EUREBA and are effective from January 2017 for an initial period of up to 6 months.
“Swiss partner prochem AG is a distribution company with over 50 years of experience on the Swiss market. prochem distributes high-quality specialty chemicals and raw materials. The focus lies on individually customized solutions for the manufacture of products that are both easy to use and economically efficient. Greek company Paxman is a production and distribution company. Their speciality is the production of beverage emulsions, -bases and juices and additionally the distribution of ingredients for the beverage industry”, says Lucy Dahlgren, MD of Bayn Europe.
The companies have scanned their product portfolios and channels to market. Bayn’s decision of signing the letter of intent was based on both companies’ profiles and their solution driven teams which fit Bayn’s business model.
”We look forward to working with these two companies and surveying the markets with Bayn products and solutions, thus getting the feedbacks from the market. Both companies have their product speciality and business focus area which made our strategy more efficient to suit the market needs. Our goal is to sign a contract agreement with a specified market plan after the expiry of the LOI period”.
”We worked with Stevia before and experienced a certain resistance in the market. We look forward to test out Bayn’s solution product in our market and collect the market interests and information before we can set up a work plan” says Mathias Gwalter, Technical Sales and Product Manager at prochem AG, Switzerland.
”Our focus in the beginning will be beverage application, which is our specialty. Sugar reduction in all other applications is as interesting and presents a challenge for us. Bayn’s speciality of ingredient solution and total solution for sugar reduction can catalyse our product development. Initially we will distribute both ingredient solution and total solution”, says Stavros Frangias, CEO of Paxman.
About Bayn Europe
Bayn Europe is an independent supplier of cutting edge and healthy sugar reduction solutions for the food and beverage industry. Bayn’s ingredient solutions from natural sources, refined through scientific research and extensive market experience, facilitate new healthier formulations and total solution focused on taste and texture to help food and beverage companies around the world reduce sugar and calories in their products. Bayn Europe was founded in 2009 in Stockholm, Sweden, and is listed at Nasdaq Stockholm, First North, since 2014.
Mangold Fondkommission AB is Bayn’s certified adviser. Telefon +46-8-5030 1550.
For more information, please contact Lucy Dahlgren, Managing Director Bayn Europe AB, e-mail ld@bayn.se
Denna information är sådan information som Bayn Europe AB är skyldigt att offentliggöra enligt EU:s marknadsmissbruksförordning. Informationen lämnades, genom ovanstående kontaktpersons försorg, för offentliggörande den 1 februari 2017 kl. 16.20 CET.
Tags: