MUNDELEIN, Ill., Nov. 29, 2011 /PRNewswire/ -- Z Trim
Holdings, Inc. (OTC: ZTHO), manufacturer of multifunctional dietary
fiber ingredients for the food industry, today announced that the
Company has formed a Board of Advisors to assist management and its
Board of Directors in strategic planning and business development
initiatives.
The initial members of the Board of Advisors include former
Senior Level executives from some of the largest organizations in
the food industry. Listed in alphabetical order, the initial
members are:
- Gordon Brunner – Former CTO at
Procter & Gamble®
- Roger Enrico – Former CEO of
PepsiCo®
- Jack Greenberg – Former CEO of
McDonald's®
- James Lawrence – Former CFO of
Unilever® and General Mills®
- Rick Lenny – Former CEO of
Hershey's®
- Dick Mayer - Former CEO of Kraft
Foods® and Kentucky Fried Chicken®
- Bob Morrison – Former CEO of
Quaker Oats® and Kraft Foods®
- Robert Shapiro – Former CEO of
Monsanto® and the NutraSweet® division of G.D Searle and
Company®
Acting through Brightline Ventures, a New York-based investment firm, each of these
advisors have invested in the company following due diligence.
Brightline has invested over $11.4
million in Z Trim Holdings and is the company's largest
institutional investor.
Z Trim is a natural, minimally processed, taste-neutral, zero
calorie food ingredient originally developed and patented by the
USDA made from corn bran and oat hull through a patented process
owned exclusively by Z Trim Holdings. Designed for use in a wide
range of food applications from salad dressings, baked goods and
snack foods to dairy, meat and poultry products, Z Trim can provide
a number of unique benefits to food manufacturers that include
extending shelf-life, reducing calories, fat and trans-fat content,
adding dietary fiber, reducing oil separation and lowering product
manufacturing costs.
"We are extremely pleased to have such a strong and experienced
group of advisors join the Z Trim team," said CEO Steve Cohen. "Not only do we have the benefit of
a deep pool of talented executives to help guide us, but it's
gratifying to know that each have decided to personally invest in
the company after learning more about our products and impact they
can have on global food production. In 2011, we have added
significant pieces – an agreement with a high-capacity toll
manufacturer, a network of ingredient distributors, and now, a
stellar group of advisors – to begin to fulfill the promise of our
revolutionary products."
"Z Trim is a unique ingredient that solves a number of problems
for food companies, starting with cost reduction," said
Dick Mayer, a Former CEO of Kraft
Foods and Kentucky Fried Chicken "Beyond that, it adds
functionality to the product through moisture management. The fact
that it has already shown the ability to enhance a number of high
volume products from leading manufacturers is a very strong
indicator of its potential in the food industry."
"Now that the Company has taken steps to put a plan in place to
address production capacity constraints by entering into an
agreement with toll manufacturer Aveka, I look forward to helping
the company capitalize upon its opportunity within its $30 billion addressable market," said
Roger Enrico, a Former CEO of
PepsiCo.
According to Former CEO of McDonald's Jack Greenberg, "An ingredient like Z Trim that
can simultaneously reduce cost while improving the taste and
nutritional characteristics of an end product could be very
valuable to the quick service restaurant industry."
Former Chief Technology Officer of Procter & Gamble Gordon
Brunner added, "I am pleased to see that the Company has taken
steps to scale its production process effectively. The next few
years should be very exciting."
ABOUT Z TRIM®
Z Trim Holdings, Incorporated, www.ztrim.com, deploys
technology, formulation, and product performance solutions built
around cutting edge multifunctional dietary fibers for both
domestic and international food markets. Made from either corn bran
or oat hulls, Z Trim® fiber ingredients contribute multifunctional
attributes for food product design and processing, including
moisture management, texture and appearance quality, fat and
calorie reduction, clean labeling, and cost-control. Z Trim® can
provide enhanced eating quality, outstanding product performance,
and frequently, improved nutritional profiles in meats, sauces,
dressings, microwaveable hand-held snacks, baked goods, fillings,
toppings, prepared meals, ice cream, cream cheese, dips, and many
other food products.
Forward-Looking Statements and Risk Factors
Certain statements in this press release are "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
These statements involve a number of risks, uncertainties and other
factors that could cause actual results, performance or
achievements of Z Trim Holdings to be materially different from any
future results, performance or achievements expressed or implied by
these forward-looking statements. Other factors, which could
materially affect such forward-looking statements, can be found in
our filings with the Securities and Exchange Commission at
www.sec.gov, including risk factors relating to our history of
operating losses, that our auditors have expressed substantial
doubt regarding our ability to continue as a going concern, the
fact that we may dilute existing shareholders through additional
stock issuances, and our reliance on our intellectual property.
Investors, potential investors and other readers are urged to
consider these factors carefully in evaluating the forward-looking
statements and are cautioned not to place undue reliance on such
forward-looking statements. The forward-looking statements made
herein are only made as of the date of this press release and we
undertake no obligation to publicly update such forward-looking
statements to reflect subsequent events or circumstances.
Contact:
Company Contact:
Angela Strickland
(847) 549-6002
Media Relations:
Michael Glickman
mglickman@allianceadvisors.net
(917) 596-1883
Investor Relations:
Alliance Advisors
Alan Sheinwald
asheinwald@allianceadvisors.net
(212) 398-3486
Legend Securities, Inc.
Thomas Wagner
twagner@legendsecurities.com
(718) 233-2627
SOURCE Z Trim Holdings, Inc.