JV

GLG Life's China JV gets production, sales license

(Agencies)
Updated: 2011-01-26 11:16

Canadian sweetener maker GLG Life Tech Corp said its Chinese joint venture received a national license to produce and sell zero-calorie beverage and food products in the Asian country.

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ANOC China, the joint venture with China Agriculture and Healthy Foods Company (CAHFC), will sell products sweetened with GLG's stevia extract -- a natural zero-calorie sweetener.

Vancouver-based GLG also named Wang Qian, a senior member of GLG's China operations, as the president of ANOC China. The position is based in Shanghai.

Shares of GLG closed at C$10.72 ($10.75) on Monday on the Toronto Stock Exchange.