CASTLE ROCK, CO--(Marketwired - Jun 6, 2013) - Where Food Comes From, Inc. (d.b.a. IMI Global) (
Under terms of the partnership agreement, Where Food Comes From will exclusively receive preferential pricing for test services, which may then be passed on to the Company's customers. Where Food Comes From is the only organization with such an arrangement, which affords the Company a competitive advantage in this emerging space.
"The need to rapidly and cost-effectively screen feeds, livestock, produce, meats and other raw materials and ingredients to assure compliance with specific program requirements has been evolving over the last few years," said John Saunders, Where Food Comes From, Inc. Chairman and CEO. "For many of our domestic consumers and international export partners, process verification provides the right kind of production platform to meet specific program requirements, but they also want to see test results indicating products do not contain specific elements. With this partnership, we are now able to package our industry leading verification services with cutting edge residue testing at favorable rates -- saving our customers time and money while providing them with improved ability to meet an ever-increasing number of production standards."
Issues associated with the presence of undesirable residues, or specifications that place limits on production methods, have become commonplace in domestic and export markets, where food products are undergoing increasing scrutiny on many levels. The partnership between Where Food Comes From and CMSQ is expected to substantially increase marketing options for agricultural producers while simultaneously supporting the global and domestic values of products produced in the US.
"We could not be more excited about the Randox Evidence Investigator and the opportunities it provides to food producers here in the United States," said Dr. Kevin Pond, Colorado State University Department of Animal Sciences Head. "The addition of this kind of technology to new and existing process verified programs is the next step in providing consumers the type of trust and transparency they have been asking for. The value and protection this could provide the entire food industry is unprecedented. We're also pleased with our relationship with Where Food Comes From, which as the US leader in livestock source verification has the ability to raise awareness of the growing role CSU is playing in the food transparency space."
This mutually-beneficial collaboration will enable CMSQ to establish an initial and consistent customer for use of the Randox Evidence Investigator residue screening while allowing Where Food Comes From to provide accurate, precise verification screening services in a much shorter period of time and at a much reduced cost compared to other potential testing options. Testing is anticipated to be available as early as July 1, 2013.
About Where Food Comes From, Inc. Where Food Comes From, Inc. (d.b.a. IMI Global) is America's leading provider of third-party identification, verification and traceability solutions for the food industry. The Company supports more than 6,000 farmers, ranchers, processors, retailers and restaurants with a wide variety of value-added services through their IMI Global (IMI) and International Certification Services, Inc. (ICS) verification divisions. In addition, the Company's Where Food Comes From ® retail and restaurant labeling program utilizes the verification of product attributes to connect consumers to the sources of the food they purchase through product labeling and web-based information sharing and education. Go to www.wherefoodcomesfrom.com for additional information.
About the Center for Meat Safety & Quality, Colorado State University Colorado State University's Center for Meat Safety & Quality (CMSQ) consists of a multidisciplinary group of scientists that address national and global food safety and quality issues by providing education and by conducting basic and applied research, technology development and delivery or transfer of technology. Objectives of CMSQ include (a) helping to assure that consumers worldwide have access to a dependable supply of safe and high quality food products; (b) to educate and train undergraduate and graduate students to assume food safety positions in industry, academic institutions and regulatory agencies; and, (c) to provide outreach education to industry, regulatory and public health agencies, Extension educators, agriculture professionals, and consumers.
CAUTIONARY STATEMENT This news release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, based on current expectations, estimates and projections that are subject to risk. Forward-looking statements are inherently uncertain, and actual events could differ materially from the Company's predictions. Important factors that could cause actual events to vary from predictions include those discussed in our SEC filings. Specifically, statements in this news release about industry leadership; preferential pricing and exclusivity related to the test equipment; and demand for, and impact and efficacy of, the Company's products and services on the marketplace, are forward-looking statements that are subject to a variety of factors, including availability of capital, personnel and other resources; competition; governmental regulation of the agricultural industry; the market for beef and other commodities; and other factors. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update its forward-looking statements to reflect new information or developments. For a more extensive discussion of the Company's business, please refer to the Company's SEC filings at www.sec.gov .
Company Contacts: Kathryn Britton Marketing Director 866-395-5883 Jay Pfeiffer Pfeiffer High Investor Relations, Inc. 303-393-7044
