BASF and FORTITECH announce joint venture for human nutrition premixes

Joint venture involving the manufacturing, marketing and sales of human nutrition premix products in Europe, Asia, South America and Africa

18-Jun-2002

- Both companies will focus on core competencies to serve customers better

- Deal follows a North American strategic alliance formed in June 2001

At the IFT Food Expo, Anaheim, CA, U.S.A., June 17, 2002, Fortitech, Inc. and BASF announced a joint venture for the manufacture,

marketing and sales of human nutrition premix products. Under the agreement, BASF, a world leader in the production of nutritional ingredients, will transfer its premix customers in Europe, Asia, South America and Africa to international companies of Fortitech, the world's leading provider of custom developed nutrient systems. Fortitech international companies, constituting the joint venture, will assume ownership of BASF´s premix manufacturing facilities in Denmark and Malaysia. In addition, BASF will become the primary supplier of a broad range of nutritional ingredients to Fortitech. The joint venture builds upon the existing North American strategic alliance the companies formed in June 2001, creating a worldwide partnership. This will strengthen BASF´s and Fortitech´s respective position as leading suppliers of nutritional ingredients and nutrient systems.

As part of the joint venture, BASF will provide Fortitech with enhanced access to top grade nutritional ingredients to be used in nutrient systems for products ranging from baby formulas and nutrient bars to drinks and supplements. Fortitech customized premixes feature any of a variety of ingredients from a comprehensive range of vitamins, minerals, amino acids, nucleotides, nutraceuticals and other specialty ingredients. Fortitech will also have access to BASF's substantial nutritional research and development efforts.

"This new joint venture represents a significant commitment by Fortitech to expand its global presence, particularly in Europe and Asia," stated Walter Borisenok, President of Fortitech. "The strength of Fortitech as a manufacturer of nutrient systems combined with BASF's production excellence and broad portfolio of top quality nutritional ingredients will enhance Fortitech's ability to deliver the highest standard technology, product innovation, consistent product quality and excellent customer services."

Commenting on the new partnership, Dr. Andreas Ultsch, BASF´s Director of Strategic Marketing Human Nutrition, said: "This joint venture brings together the best of the two companies and is further evidence of BASF´s and Fortitech´s commitment to providing excellent human nutrition products to current and prospective customers. The joint venture is an endorsement by Fortitech of BASF´s outstanding competencies in helping make products more nutritious. Likewise, it is also an endorsement by BASF of Fortitech´s strengths in custom premix formulation and customer service."

https://www.chemeurope.com/en/news/11420/basf-and-fortitech-announce-joint-venture-for-human-nutrition-premixes.html