MORRISVILLE, N.C., Nov. 7, 2019 /CNW/ -- Pyxus International, Inc.
(NYSE: PYX), a global value-added agricultural company, is pleased
to announce that the Tanzania Bureau of Standards has certified
that the company's Pyxus Agriculture Tanzania subsidiary is in
compliance with national safety and quality standards. Based in
Dodoma, Tanzania, Pyxus
Agriculture Tanzania is a manufacturer of responsibly produced
edible sunflower oil.
"We have worked hard to create a manufacturing facility in line
with global best practices and we are pleased that our efforts to
achieve high safety and quality standards have been recognized by
the Tanzania Bureau of Standards," said Jose Maria Costa, Executive Vice President of
Pyxus International's Value-Added Agricultural Products division.
"With this certificate, we can now begin to move forward selling
edible sunflower oil that businesses and consumers can trust."
The company expects to begin commercial sunflower oil production
in late calendar 2019 and anticipates producing up to 2,550,600
liters of oil in its first full year of operation.
"The continued development of our Tanzanian sunflower oil
operations is another example of how Pyxus is continuing to execute
against our One Tomorrow transformation strategy and diversify into
multiple agricultural products and services," said Pieter Sikkel, President, CEO and Chairman of
Pyxus International. "We are pleased to be able to further support
the Tanzanian farmer base by bringing value-added processes to the
local market that will drive crop diversification into a growing
consumer industry with significant local and regional
opportunities."
Pyxus Agriculture Tanzania expects to have its own branded
products on the market by the end of fiscal 2021.
About Pyxus International Inc.
Pyxus International
Inc. (NYSE:PYX) is a global agricultural company with 145 years'
experience delivering value-added products and services to
businesses and customers. Driven by a united purpose—to transform
people's lives, so that together we can grow a better world—Pyxus
International, its subsidiaries and affiliates, are trusted
providers of responsibly sourced, independently verified,
sustainable and traceable products and ingredients. For more
information, visit www.pyxus.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains "forward-looking
statements" as defined in the Private Securities Litigation Reform
Act of 1995. These statements are based on current expectations of
future events. Such statements include, but are not limited to,
statements about future operating results, plans, objectives,
expectations and intentions and other statements that are not
historical facts. Such statements are based on the current beliefs
and expectations of management and are subject to significant risks
and uncertainties. If underlying assumptions prove inaccurate or
known or unknown risks or uncertainties materialize, actual results
may differ materially from those currently anticipated expected or
projected. The following factors, among others, could cause actual
results to differ from those expressed or implied by the
forward-looking statements: changes in laws and regulations or the
interpretation of laws and regulations, continued compliance with
applicable regulatory requirements, uncertainties with respect to
achieving anticipated production volumes (including encountering
unforeseen issues as production is scaled up), uncertainties with
respect to the timing of the commencement of production activities.
Additional factors that could cause results to differ materially
from those expressed or implied by forward-looking statements can
be found in Pyxus's most recent Annual Report on Form 10-K for the
period ended March 31, 2018 and its
other filings with the Securities and Exchange Commission (the
"SEC") which are available at the SEC's Internet site
(http://www.sec.gov).
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SOURCE Pyxus International, Inc.