Enzymotec Ltd. Announces Completion of Its Migdal Ha'Emeq Manufacturing Facility Expansion
14 January 2014 - 1:00AM
Enzymotec Ltd. (Nasdaq:ENZY), a developer, manufacturer and
marketer of innovative bio-active lipid ingredients, today
announced the completion of its Migdal Ha'Emeq manufacturing
facility expansion and a successful operating run of the new krill
oil extraction process.
"We are very pleased to complete our manufacturing expansion for
turning krill meal into crude krill oil in-house within our
expected timeline," said Dr. Ariel Katz, President and Chief
Executive Officer of Enzymotec Ltd. "Our fully integrated krill oil
extraction process will increase our capacity. We also believe it
will be more efficient due to the use of new technologies and the
sale of marketable byproducts of the krill oil extraction process,
thereby also increasing our nutrition segment revenues and gross
profit."
About Enzymotec Ltd.
Enzymotec is a leading global supplier of specialty lipid-based
products and solutions. The Company develops, manufactures and
markets innovative bio-functional lipid ingredients, as well as
final products, based on sophisticated processes and
technologies.
Forward Looking Statements
This release may contain forward-looking statements, which
express the current beliefs and expectations of Company management.
Such statements involve a number of known and unknown risks and
uncertainties that could cause our future results, performance or
achievements to differ significantly from the results, performance
or achievements expressed or implied by such forward-looking
statements. Important factors that could cause or contribute to
such differences the following risks: a high proportion of the
sales of our InFat product is sold to end users by a single company
in China; we rely on our Swedish joint venture partner to
manufacture InFat, and certain matters related to the joint venture
are the subject of disagreement; our gross profits may be adversely
affected if we are only able to obtain lower quality krill meal;
our ability to obtain krill may be affected by conservation
regulation or initiatives; we are dependent on a single facility
that houses the majority of our operations; we may not be able to
expand our production or processing capabilities or satisfy growing
demand; our product development cycle is lengthy and uncertain, and
our development or commercialization efforts for our products may
be unsuccessful; we are subject to significant and increasing
government regulations regarding the sale and marketing of our
products; we may not be able to protect our proprietary technology
or prevent its unauthorized use by third parties; we are currently
subject to litigation, and in the future may become subject to
additional litigation, regarding intellectual property rights; and
other factors discussed under the heading "Risk Factors" in the
Company's final prospectus for its initial public offering filed
with the Securities and Exchange Commission on September 30, 2013.
Forward-looking statements in this release are made pursuant to the
safe harbor provisions contained in the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
made only as of the date hereof, and the company undertakes no
obligation to update or revise the forward-looking statements,
whether as a result of new information, future events or
otherwise.
CONTACT: ICR, LLC
Katie Turner
646-277-1228
Katie.turner@icrinc.com
-or-
John Mills
310-954-1105
John.mills@icrinc.com
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