MESA, Ariz., July 6, 2004 (PRIMEZONE) -- Humatech, Inc. (OTCBB:HUMT) today announced that it has signed a five year agreement with Akey, (www.akey.com) one of the nation's leading animal nutrition solutions companies, and a business unit of North American Nutrition Companies, Inc. located in Lewisburg, Ohio. The agreement requires Akey to conduct further research on Humatech's proprietary Promax(r) product line, and provide other support to serve the animal nutrition markets within the USA and throughout parts of the world.
Akey is a leading multi-service nutrition business, which provides blending, distribution, transportation, feed manufacturing, and nutrition services to the feed, livestock, and poultry industries. It is focused on providing information and technology that can be used to bring solutions to its customers in a product and service package that provides measurable value.
Akey is owned by Provimi (listed on Euronext Paris, FR0000044588), (www.provimi.com) an international group of companies headquartered in The Netherlands, with strong market positions worldwide in animal nutrition. Provimi has built a network of businesses that are engaged in activities including production and sales of premix, concentrates, feed, and specialty products for nearly all species.
With 2003 revenues in excess of $1.8 billion, Provimi is currently one of the world leaders in the animal nutrition sector. Through its R&D program, carried out by a team of 280 researchers in 12 state-of-the-art laboratories, Provimi's staff of more than 8,000 employees provides worldwide nutrition solutions. Their operations are located in a total of 28 countries in Europe, the United States, Latin America, Asia, Australia, and South Africa.
Humatech President & CEO David Williams, stated, "There is a lot of history here that goes back several years. Successful university testing created strong interest in Promax. Over the past year, Akey conducted five separate swine feeding trials with Promax products. The beneficial results of using Humatech's Promax in their feeding program were both consistent and cost-effective. This agreement came as the result of years of consistently positive test experiences and a lot of hard work by all involved. Humatech's goal is to benefit from Akey's expertise in the animal feed and nutrition industry to further the development and growth of Promax sales into the animal feed and animal agriculture industries worldwide. The immediate upshot of all of this is the fact that Humatech has already recognized significant sales volume from purchases by Akey to begin meeting customers startup needs."
Dr. Dwight Armstrong, President & CEO of Akey, added, "Our research to date, which will continue in the future, has shown Humatech's Promax product to improve animal performance and have very significant value for the producer. We are very pleased to be working in strategic partnership with the Humatech team, and look forward to a mutually rewarding working relationship. Our goals are that Promax will become an important part of nutrition solutions, not only for our own customers, but also our nutrition solutions partners worldwide who are part of the global Provimi organization."
As part of the agreement, Akey has committed to provide Humatech with additional research, development and other services in support of Promax, and give full support to the use of their feeding trials information that has been provided to Humatech for sales worldwide.
Akey also will assist Humatech, where commercially reasonable, in developing further enhancements of Promax for the animal feed and animal agriculture industries, including applications for different animal species. In addition, where commercially feasible and for the purpose of developing and increasing the market for Promax in the animal feed and animal agriculture industries, Akey will assist in dispersing and communicating the results and findings of its research studies with Promax.
The Akey partnership also calls for technical support to Humatech's marketing staff. These services could include such activities as sales training, key customer visits and speaking engagements.
"This is a major milestone," said Williams. "The validation of Akey, one of the foremost names in the animal nutrition business, is extraordinarily valuable to Humatech going forward. It's a great day for Humatech and its shareholders," the CEO concluded.
About Humatech Inc.
Humatech, Inc. manufactures all natural nutrient solutions for plants and animals, produced from a proprietary process described as "Iso-Molecular" technology. The company markets Promax(r) to the animal feed industry, and also has an extensive agricultural product line, which it markets in the U.S.A and Europe, as well as its Organic Advantage(r) retail product line, which consists of 12 organic based liquid products ranging in size from a 4oz. Planting Solution, to a 2 1/2 gallon Lawn Food.
Certain information contained in this news release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. While these statements are made to convey the company's progress, business opportunities and growth prospects, readers are cautioned that such forward looking statements represent management's opinion. Actual company results may differ materially from those described. The company's operations and business prospects are always subject to risk and uncertainties. A more extensive listing of risks and factors that may affect the business prospects of the company and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission.
Additional information regarding the company, and its product lines, is available at www.humatech.com . Additional information on Akey is available at www.akey.com .