2 Jun 2016 08:25
PURECIRCLE LIMITED
("PureCircle" or "the Company")
U.S Customs and Border Protection Communication
PureCircle (LSE: PURE), the world's leading producer and marketer of high purity stevia ingredients today issues a statement in respect of a recent U.S. Customs and Border Protection Communication
PureCircle Statement
Earlier today U.S. Customs and Border Protection ("CBP") issued a communication regarding a detention order impacting shipments of stevia into the USA refined and shipped by PureCircle. This order is based on an inaccurate allegation that these shipments contained products that were produced using forced labor.
PureCircle is committed to human rights and the proper and fair use of labor and as such, we have an explicit policy prohibiting use of prison or forced labor in any part of our business. We have been certified by independent auditors to ensure compliance with the Sedex Members Ethical Trade Audit (SMETA) which requires that "there is no forced, bonded or involuntary prison labour used".
In addition, we have confirmed that our product, including the shipments being withheld by U.S. customs is not sourced from Inner Mongolia Hengzheng Group Baoanzhao Agricultural and Trade LLC, who were also named in the CBP communication. We have submitted relevant documentation of this, including independent, 3rd party verification to CBP and are working with them to correct the inaccurate information in the CBP communication and to expedite the release of our shipments.
Management, together with professional advisors are making every effort to resolve the situation with the CBP.
Depending on the duration of the detention order there could be some impact on sales and profit in the current financial year.
Enquiries: | |
Magomet Malsagov, CEO | +603 2166 2066 |
William Mitchell, CFO | +44 7974 005 163 |
NOTES TO EDITORS
PureCircle Limited is the world's leading producer of high-purity stevia ingredients for the global food and beverage industry. Its mission is to encourage healthier diets around the world through the supply of natural ingredients to the global food and beverage industry. Its vision is to lead the global expansion of stevia as the next mass volume, natural-origin sweetener. PureCircle has offices around the world with the global headquarters in Kuala Lumpur, Malaysia. The Business was founded in 2002. PureCircle's shares are listed on the main market of London Stock Exchange and trades under the ticker symbol PURE. For more information, visit: www.purecircle.com.