ORLANDO, Fla., Feb. 6, 2018 /PRNewswire/ -- Florida-based Valensa International announced
Both Parry Nutraceuticals and Valensa International are divisions of EID Parry and the $5 billion Murugappa Group. The 50-50 joint venture will leverage Parry Nutraceutical's cultivation strengths and Synthite's extraction capabilities making it a strategic fit for both the partners. In addition, their strengths in marketing will be synergistic, with Parry Nutraceuticals and Valensa focusing on the global human nutrition segment while Synthite Industries will focus on food colors and additives.
The joint venture will set up a manufacturing facility in Tamil Nadu, India for the production of Phycocyanin, a natural blue pigment extracted from Spirulina.
Aju Jacob, Director, Synthite Industries said, "Our partnership will offer our customers a high quality, sustainable, supply of Phycocyanin blue. Our leading edge technology will allow us to qualify our product as a natural 'Coloring Food' for European markets and as a certified Organic product for the US market. We will also explore emerging opportunities in Algae extracts for the global health and wellness industry."
Muthu Murugappan, Business Head of Parry Nutraceuticals said, "To start with, we will be focusing on extracting Phycocyanin from Spirulina. In due course, we will be looking at other avenues within the microalgae segment thereby building the business to a company with a diversified value-added Algae portfolio."
About the Companies
Media Contact: Doug Lynch, Sr. Vice President, (609) 977-8953, D.Lynch@valensa.com
View original content:http://www.prnewswire.com/news-releases/parry-nutraceuticals-valensa-expand-microalgae-plans-through-joint-venture-with-synthite-industries-300593933.html
SOURCE Valensa International
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