Strong choline market boosts Algry forecast
choline salts, said that it expects end of year net sales to
increase by around 70 per cent on 2001 figures.
Algry Quimica, the Spanish manufacturer of pharma and food grade choline salts, said that it expects end of year net sales to increase by around 70 per cent on 2001 figures.
The company said that its first half results, which showed sales were up 35 per cent on the same period last year, proved the growing trend in the human choline salts market.
"The market for choline derivatives has experienced a significant growth in recent years, especially since the FDA's recent decision authorising products that contain certain amounts of choline to carry a nutrient label.
This growth just confirms we are working in the right direction, offering the growing market for choline-based products reliable materials," said Guillermo Rodriguez, sales manager at Algry Quimica. "We also expect this growing trend to remain during 2003, since customers' and manufacturers' interest in "the newest vitamin" is growing, particularly in the US."
Algry Quimica also announced investments for 2003 in their choline salts manufacturing facility at Huelva, Spain, which will see manufacturing capabilities boosted by around 70-80 per cent, in order to meet increasing demand. Choline chloride and choline bitartrate used in nutraceuticals will be produced in greater quantities.
