Both LoIs include an agreement on the distribution of Bayn's sugar reduction solution EUREBA starting from February 2017 with a trial period of 6 months.
"The Swiss partner Prochem is a distributor with 50 years of knowledge. They have been distributing mainly specialty chemicals and raw materials with high quality requirements and customized products. The Greek company Paxman is a production and distribution company. Their specialty is in solutions and ingredients for the beverage industry", says Lucy Dahlgren, CEO, Bayn Europe.
"We look forward to working with these companies to further strengthen our presence and brand in several countries in Europe. Our goal is to sign a live agreement after successful tests during the LoI period. At this stage, it is not possible to assess the potential of these collaborations, but the test period will show that," continues Lucy Dahlgren.
"We have also previously worked with stevia and met resistance in the market due to difficulties in obtaining taste and structure. We look forward to testing Bayn's sugar-reducing solutions in our market instead." says Mathias Gwalter, Technician and Product Manager at Prochem AG, Switzerland.
"Our initial focus will be on reducing sugar in beverages, which is also our specialty and where we have established customer contacts. Bayn's EUREBA sugar reduction solution strengthens our customer offering.", says Stavros Frangias, CEO of Paxman.
About Bayn Europe
Bayn is a knowledge-driven company that helps food producers meet market demands for a healthier world. Bayn's solutions reduce sugar in products and create new, naturally sweetened, low-calorie products. The company's natural solutions, developed through scientific research, provide innovative, healthy recipes in close collaboration with our customers in the global food industry. Further information regarding the company can be found at www.bayn.se
Bayn is listed on Nasdaq Stockholm, First North, under the ticker BAYN.
Mangold Fondkommission AB is the company's certified adviser. Telephone +46-8-5030 1550.
For more information, contact:
Lucy Dahlgren, CEO, Bayn Europe AB, e-mail ld@bayn.se
This information is information that Bayn Europe AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 16.20 CET on February 1, 2017.
