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IFANCA Halal Certified BASF Announces Joint Social Business Venture With Grameen
March 5, 2009 – IFANCA halal-certified BASF SE and Grameen Healthcare Trust have announced the establishment of BASF Grameen Ltd., a joint social business venture in Bangladesh. The purpose of the company is to improve the health and business opportunities of the poor of Bangladesh. BASF Grameen Ltd. will start by utilizing two products from BASF's portfolio: dietary supplement sachets containing vitamins and micronutrients, and impregnated mosquito nets that offer protection against insect-borne disease.
Social commitment with an entrepreneurial twist
"Our social business joint venture is intended to empower people to take part successfully in business life," said Dr. Jürgen Hambrecht, Chairman of the Board of Executive Directors of BASF SE. "The more people who do so – be they business partners, customers or employees – the better the economic and social development of a country and its population. Investing in people's entrepreneurial skills is therefore part of corporate responsibility."
The idea is for a business venture to serve a social purpose, cover its own costs and recoup the partners' initial investment. Any additional profits are reinvested fully in the company. BASF Grameen Ltd. is not a charity and combines business sense with social needs.
"In the long term, we can better help these people through a business model that offers them beneficial products and services at affordable prices rather than through charitable donations," said Mohammad Yunus, Nobel Peace Prize winner and co-founder of BASF Grameen Ltd.
Alongside an initial investment of €200,000, BASF will contribute the funds for one million sachets of vitamins and micronutrients and 100,000 mosquito nets to the joint venture. Grameen's contribution includes its knowledge of the market, distribution structures and networks in Bangladesh.
In the initial stages, the dietary supplement business will focus on large consumers such as schools, and established distribution channels such as pharmacies. This will familiarize people with the benefit of the sachets as part of everyday nutrition. In the medium term, the products will also be sold directly to end users via established Grameen networks. In towns, the impregnated mosquito nets will be sold in food stores, clothing stores and pharmacies. In rural areas, agricultural wholesalers will sell the malaria protection nets in association with the Grameen network and will also instruct purchasers in their use. Grameen Bank plans to provide microcredits to support people in setting up their own distribution outlets and in funding the purchase of mosquito nets.
By growing the purchasing power of people in Bangladesh, BASF indirectly is also creating new markets and consolidating its presence amongst customer groups. BASF is the first DAX30 company and the first chemical company in the world to set up a social business with Grameen.
Sabinsa Named 2009 Herbal Industry Leader By AHPA
Sabinsa was honored to receive the 2009 Herbal Industry Leader Award from the American Herbal Products Association (AHPA) during the AHPA annual meeting this year in Anaheim, California. At the same meeting Shaheen Majeed, Sabinsa's Marketing Director, was elected to the AHPA Board of Directors.
Sabinsa Corporation has had several of its dietary supplement ingredient offerings, including a broad range of standardized botanical extracts, probiotics, enzymes and minerals certified halal by IFANCA. Their IFANCA halal-certified branded ingredients include:
- Bioperine(R), a standardized piperine composition derived from black pepper extract that has been shown in clinical research to increase the absorption of nutrients in nutritional supplement formulations
- ForsLean(R), an extract derived from Coleus forskohlii roots, and the only known plant source of forskolin, a natural compound that has been shown to increase lean body mass and help optimize body composition
- Fabenol(R), a standardized extract from the seeds of the kidney bean that is used to support weight management
- Curcumin C3 Complex(R), an extract of turmeric standardized to 95 percent curcuminoids
- Cococin(R), a freeze-dried powder form of green coconut water
- Boswellin(R), an extract of Boswellia serrata that has been shown to have anti-inflammatory properties
- Lactospore(R), a lactic acid bacillus preparation
- Digezyme(R), a multi-enzyme complex derived from fermented grain composition
- Selenium SeLECT(R), a L-(+)-Selenomethionine compound and the most bioavailable, pure and safe form of selenium
Additional product certifications are underway.
Cargill To Cease Hydrogenated Oil Production At Wichita Plant
IFANCA certifies a selection of Cargill products for the food industry, which recently announced that it will cease hydrogenated oil production at its Wichita, Kansas facility in August 2009. Remaining hydrogenation production will be transitioned to other Cargill facilities.
"The demand for hydrogenated oils has decreased significantly as a result of trans fat reduction in foods, therefore leaving the plant underutilized," said Mike Venker, president, Cargill Dressings, Sauces & Oils. "We made every effort to keep the production at the plant, but ultimately could not achieve acceptable production efficiencies." The plant will remain operational and continue to produce salad oils and various blends.
Cargill has also launched a new oils and shortening knowledge center, www.cargill.com/food/oilsforhealthysolutions, within its food ingredient web site on Cargill.com. The knowledge center provides information to food manufacturers seeking to formulate healthier products. It not only gives an overview of oils and nutrition, but it also showcases Cargill's knowledge and in-house technical expertise in the fats and oils arena.
"This new knowledge center is a great source of information about fats and oils and really serves as a portal to answering questions about current issues and options," said Lynne Morehart, Technical Services Manager, Cargill Oils & Shortenings Team. "We believe it will be a helpful tool for food manufacturers looking for solutions to achieve their nutrition, performance and cost goals."
Customers visiting the knowledge center will get an overview of oils and shortenings and learn about issues such as nutrition claims and palm sustainability. The center features an expansive, "From Our Experts" section demonstrating Cargill's knowledge and capabilities through a series of questions and answers with key technical oil experts. The "Solutions" section helps customers understand different processes and solutions that can be applied to achieve nutritional goals. The knowledge center also includes an interactive "Nutrition Facts Label Calculator" to demonstrate how different oils affect the nutrition facts label.
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