CONTACT: Geri
M. Berdak
The Solae Company
gberdak@solae.com
THE SOLAE COMPANY ANNOUNCES SOY-BASED LECITHIN
PORTFOLIO PRICE INCREASE
ST. LOUIS – November 3, 2003 – The Solae Company,
a leading provider of functional ingredients that help food companies
market great-tasting, healthier and more innovative foods for
consumers, today announced that it will raise the price of its
soy-based lecithin product portfolio by 5 to 8 percent. The price
increase will take effect today, November 3, 2003.
The price increase is a result of recent escalation in the cost
of manufacturing, rising energy costs, and a variety of increases
in the cost of ingredients, transportation and packaging.
“
We looked at other options to avoid passing on any of these increased
costs to our valued customers,” explained Jack Self, global
business lead – lecithin, The Solae Company. “However,
external factors made a price increase unavoidable.” The
price increase on the soy-based lecithin product portfolio is
in line with an increase previously announced by The Solae Company
for its soy protein products.
Self also stated that the price increase will help ensure that
The Solae Company continues to make the necessary investments
in leading technological product advances and state-of-the-art
facilities to meet the demand for lecithin products that exceed
the expectations of customers and the end consumer.
“
We will continue to invest in technical innovation and nutritional
research to expand the range of value benefits associated with
soy-based lecithins as well as the market opportunities this
presents to our customers,” said Self.
About The Solae Company
The Solae Company, based in St. Louis, Missouri, serves food
and beverage manufacturers, dietary supplement developers,
retailers and consumers in 100 countries worldwide including
the United States and Canada, Europe and the Middle East, Latin
America and the Asia/Pacific region. The company was formed
through an alliance between Bunge Limited (NYSE: BG) and DuPont
(NYSE: DD). The company’s business is focused on significantly
growing the global business in plant-based, specialty food
ingredients, initially addressing soy protein and lecithin,
and expanded offerings of products and services that help customers
compete and prosper. For more information, please visit www.solae.com.