Mannatech Begins Countdown to Launch of Business in Mexico
Direct sales leader of science-based solutions announces official launch date and pre-launch activities for Mexico
(COPPELL, Texas) May 5, 2010 – Mannatech, Incorporated (NASDAQ: MTEX - News), a global pioneer in the development of high-quality health, weight and fitness and skin care solutions based on nutritional science, today announced its plans to launch business operations in Mexico on Jan. 24, 2011.
“Only Mannatech offers the dynamic combination of real scientifically validated products along with an award-winning compensation plan, and we are excited to partner with our independent sales Associates to bring the Mannatech opportunity to Mexico,” said Randy Bancino, president of Mannatech’s global business operations and expansion. “Our decision to enter Mexico is a strategic move and serves as a gateway to the Latin American market.”
According to the Direct Selling Association, Mexico – and its population of 110 million people – is the sixth-largest direct selling market in the world. Currently, more than two million people living in Mexico are involved with direct sales creating more than $3.5 billion in revenue.
“Since our founding in 1994, our philosophy has been to support people looking to change their lives through a personal commitment to healthy living and dedication to building a business. It will be an honor to offer these opportunities to the great country of Mexico,” said Robert A. Sinnott, MNS, Ph.D., co-CEO and chief science officer of Mannatech. “With more than 45 patents in 30 countries for the technology related to Ambrotose® complex and an ongoing commitment to conduct clinical studies that demonstrate the efficacy of our products, validated science is at the core of who we are and what we do.”
Since 2007, Mannatech has invested approximately $15.7 million in world-class research and development efforts. Mannatech pioneered the concept of Real Food TechnologySM solutions by combining cutting-edge science with food-sourced ingredients to create the most nutritionally beneficial products for the human body.
“Mannatech offers real nutritional solutions to a Mexican market that is demanding substance over ‘hype’ and a real opportunity that can transcend the borders through our global seamless compensation plan,” said Al Bala, Mannatech’s senior vice president of global sales. “I am truly excited about our commitment to offer both short-term and long-term earning potential to a highly entrepreneurial culture.”
Mannatech will also host a Cinco de Mayo event at its headquarters in Coppell on Wednesday, May 5, at 6 p.m. CDT, to celebrate the announcement of the Mexico launch plans. The event is open to Associates and a guest and will be broadcast on www.mannatechlive.com. This is a great opportunity for Mannatech’s Associates around the world to hear the vision, participate in a bilingual opportunity meeting and be one of the first to see the new Mannatech Mexico website.
For more information on Mannatech’s expansion plans into Mexico visit www.MexicoMannatech.com.
Please Note: This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by use of phrases or terminology such as “intend” or other similar words or the negative of such terminology. Similarly, descriptions of Mannatech’s objectives, strategies, plans, goals or targets contained herein are also considered forward-looking statements. Mannatech believes this release should be read in conjunction with all of its filings with the United States Securities and Exchange Commission and cautions its readers that these forward-looking statements are subject to certain events, risks, uncertainties, and other factors. Some of these factors include, among others, Mannatech’s inability to attract and retain associates and members, increases in competition, litigation, regulatory changes, and its planned growth into newinternational markets. Although Mannatech believes that the expectations, statements, and assumptions reflected in these forward-looking statements are reasonable, it cautions readers to always consider all of the risk factors and any other cautionary statements carefully in evaluating each forward-looking statement in this release, as well as those set forth in its latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and other filings filed with the United States Securities and Exchange Commission, including its current reports on Form 8-K. All of the forward-looking statements contained herein speak only as of the date of this release.