- One-year Agreement With Guaranteed Purchase Minimums
- Carrington Provides Product Development, Manufacturing and Global
IRVING, Texas, Feb. 25 /PRNewswire-FirstCall/ -- Carrington Laboratories, Inc. (OTC Bulletin Board: CARN) announced today it has signed a supply agreement with Universal Harvest Corporation of Nevada. Under the terms of this agreement, Carrington will provide Universal Harvest with product development, manufacturing and packaging services. The agreement provides guaranteed revenues, on a quarterly basis, for 2008.
The product covered under this agreement will contain a proprietary raw material from Carrington's Costa Rican subsidiary Sabila Industrial. Sabila Industrial will also be involved in manufacturing of the finished product for international users.
Doug Golwas, Carrington's vice president, corporate sales and marketing, stated, "Carrington is focused on aggressively marketing our ISO-certified, cGMP liquid filling capabilities. We have a long history of providing a quality and geographic advantage for our customers for these types of services. This agreement is evidence that the market finds strategic and economic value in this segment of our business."
Both parties have agreed to enter into discussions for a long-term extension prior to the expiration of the agreement.
Carrington Laboratories, Inc. is an ISO 9001-certified, research-based,
biopharmaceutical and consumer products company currently utilizing
naturally-occurring complex carbohydrates to manufacture and market
products for mucositis, radiation dermatitis, wound and oral care, as well
as to manufacture and market the nutraceutical raw material Manapol(R) and
cosmetic raw material Hydrapol(TM). Carrington also manufactures and
markets consumer products and manufactures quality products for other
companies. Manufacturing operations comply with cGMP stan
|SOURCE Carrington Laboratories, Inc.|
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