Connect with us

Business

New Age Inc (NASDAQ: NBEV) Partners with Taiwan-based TCI Company to Sell its Manufacturing Operations

Published

on

New Age Inc (NASDAQ: NBEV) is a healthy and organic products company based in Colorado looking to become one of the world’s top social distribution and selling companies. It recently announced that it had partnered with a Taiwan-based TCI company to sell its manufacturing operations developed in the United States. TCI, which is listed in the Taiwan stock exchange, was founded in 1980. It has an annual revenue of nearly $300 million and has over 1,150 workers globally. The TCI company is a manufacturer of functional nutritional supplements, skincare, drinks, and other healthy goods. Its biotech and manufacturing operations are in Japan, PRC, Netherlands, Taiwan, and the United States, and it exports products to over fifty countries globally.

TCI is also a leading development and research company with a wide bio-diversified portfolio containing more than 200 patents. The Financial Times recognizes TCI as one of the fastest-growing companies in Asia.

The memorandum of understanding states that the new company is to sell its United States manufacturing operations, as well as its American Fork, Utah office to TCI. TCI is to provide a consideration cash price of $3.5 million and revenue shares over the next half-decade. NewAge’s Tahitian Noni Juice extractions are something NewAge will continue to produce in its Tahiti-based processing facility, where nearly 90% of the juice extractions in the region.

TCI’s Chief Executive Officer, Vincent Lin, confirmed how the company was among the fastest-growing Asian companies over the past half-decade. He claimed that the partnership will prove a further accelerant to them. They’re incredibly delighted to be collaborating with NewAge, a leading global CPG company. He said that the company’s direct-to-consumer system and over 400,000 brand partners will give them more of that competitive edge. This new partnership deal will give both companies a significant advantage over their competitors. NewAge will still concentrate on the core competencies it has when it comes to commercialization.  

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.

FEATURED STORIES

Business2 days ago

CytoDyn Inc (OTCMKTS: CYDY) Announces Study to Investigate Leronlimab for Triple-negative Breast Cancer Treatment

Post Views: 18 CytoDyn Inc (OTCMKTS: CYDY) has announced that there will be a study on the drug leronlimab and...

Business2 days ago

Curaleaf Holdings Inc (OTCMKTS: CURLF) Completes Acquisition of Los Sueños Farms

Post Views: 38 Curaleaf Holdings Inc (OTCMKTS: CURLF) has completed the acquisition of the most enormous outdoor grow in Colorado,...

Business2 days ago

BAE SYSTEMS ADR (OTCMKTS: BAESY) and Keep Scotland Beautiful Launch Cleaning Hub in Govan

Post Views: 14 BAE SYSTEMS ADR (OTCMKTS: BAESY), a designer, developer and manufacturer of aerospace systems used in space, land,...

Business2 days ago

Charlotte’s Web Holdings Inc (OTCMKTS: CWBHF) Announces it Will Expand Distribution Following Passing of Assembly Bill 45

Post Views: 10 Charlotte’s Web Holdings Inc (OTCMKTS: CWBHF) has announced that it will expand product distribution in California following...

Technology3 days ago

BAE Systems Inc. (OTCMKTS: BAESY) Granted five-year $68.5 Million Air Traffic Control Contract

Post Views: 12 BAE Systems Inc. (OTCMKTS: BAESY) has been picked for a 5-year $68.5M indefinite-quantity, indefinite-delivery contract enabling it...

Business3 days ago

CytoDyn Inc (OTCMKTS: CYDY) Announces Appointments of New Chief Operating Officer and Senior Executive Vice President

Post Views: 30 CytoDyn Inc (OTCMKTS: CYDY) has announced that it has appointed Nitya Ray, Ph.D., to act as its...