|Cyanotech Names Jim Lundeen VP/General Manager-Mainland for Nutrex Hawaii
— Action Accelerates Cyanotech's Domestic Consumer Business Focus —
KAILUA KONA, Hawaii (July 16, 2012) — Cyanotech Corporation (Nasdaq Capital Market: CYAN), a world leader in microalgae-based, high-value nutrition and health products, has named Jim Lundeen Vice President and General Manager–Mainland with responsibility for all consumer marketing and sales activity in the continental United States for the Nutrex Hawaii brand of nutritional supplements.
"Nutrex Hawaii has built a very strong base in both Hawaii and on the mainland. On a national basis, BioAstin and Spirulina Pacifica are the #1 brands of Astaxanthin and Spirulina, respectively, in the natural products channel. Nutrex Hawaii generated $1.19 of net sales per capita in Hawaii last fiscal year, which we believe suggests significant growth potential on the mainland," commented President and CEO Brent Bailey.
"Our success to date has largely been driven by our great products and an excellent sales effort. To realize our full potential we need to build a stronger domestic consumer marketing capability," Bailey continued. "Jim has a 30-year track record of business building success at Shulton, General Mills, Colgate, Dial and Pharmavite. He was instrumental in building the Purex liquid detergent business to $200 million and the Nature Made supplement brand from $250 million to $750 million in retail sales.
"We began to build our domestic consumer marketing capability last fall with the addition of Sheryl Biesman as Director of Marketing for our direct-to-consumer business. Sheryl has 17 years of experience in digital marketing with a strong focus in recent years on social media. She was a key player in the development of the NatureMade.com website while at Pharmavite. In addition, Jamie Brewster was appointed last fall as Director of Logistics. Jamie has 14 years of logistics and distribution experience, most recently with Beachbody, a rapidly growing direct-to-consumer company.
"We are delighted to add Jim, Sheryl and Jamie, who are based in Southern California, to our dedicated and passionate Cyanotech team. Together with our veteran team members based in Hawaii, they are each critical building blocks for our long-term growth strategy."
About Cyanotech — Cyanotech Corporation, a world leader in microalgae technology, produces BioAstin® Natural Astaxanthin and Hawaiian Spirulina Pacifica®—all natural, functional nutrients that leverage our experience and reputation for quality, building nutritional brands which promote health and well being. Cyanotech's Spirulina products offer complete nutrition, and augment energy and immune response. They are FDA-reviewed and accepted as Generally Recognized as Safe (GRAS) for use in food products. BioAstin's superior antioxidant activity and ability to support and maintain a natural anti-inflammatory response enhance skin, muscle and joint health. All Cyanotech products are produced from microalgae grown at its 90-acre facility in Kona, Hawaii using patented and proprietary technology. Cyanotech distributes to nutritional supplement, nutraceutical and cosmeceutical manufacturers and marketers in more than 54 countries worldwide. Cyanotech was the first microalgae company in the world to obtain quality management standards ISO 9001:2000 certification and is GMP-certified by the Natural Products AssociationTM. Visit www.cyanotech.com for more information.
“Safe Harbor” Statement under the U.S. Private Securities Litigation Reform Act of 1995 Besides statements of present fact and historical fact, this press release may contain forward-looking statements. Forward-looking statements relate to the future and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by forward-looking statements. We caution against relying on forward-looking statements. Important factors that could change actual, future results include: changes in sales levels to our largest customers, weather patterns in Hawaii, production problems, risks associated with new products, foreign exchange fluctuations, and availability of financing, as well as national and global political, economic, business, competitive, market and regulatory conditions. Other factors are more fully detailed in the Company's recent Form 10-Q and annual Form 10-K filings with the Securities and Exchange Commission.
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