The SureBeam Corporation (Nasdaq: SURE) – innovator of the nation’s first electronic
pasteurization system – today announced that it has entered into a strategic relationship
with RESAL Saudi Corporation, a subsidiary of a private Saudi conglomerate headquartered
in Riyadh, Saudi Arabia, to build a network of SureBeam(R) pasteurization facilities
within the Kingdom. When completed, the network is expected to be one of the largest,
most comprehensive systems dedicated to enhancing food safety and eliminating
food-borne pests. In addition to the $50 million contract, SureBeam will receive
recurring royalty fees through continuing operations.
SureBeam(R) uses only ordinary commercial electricity to produce a high-speed
electron beam or x-rays to instantly kill harmful and often lethal food-borne
bacteria, such as E.coli O157:H7, Listeria, Campylobacter and Salmonella without
compromising food quality. Friendly to the environment, the technology also
provides a post-harvest treatment that effectively rids fresh fruit such as
dates of harmful pests, eliminating the need for toxic chemical fumigants.
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In an effort to protect its citizens and enhance the quality of food, the Kingdom
of Saudi Arabia has been taking actions to prevent salmonella contamination
in food. In addition to being lethal at times, Salmonella bacteria can cause
arthritis in children and transmit typhoid fever. SureBeam technology is a foolproof,
environmentally-friendly solution for eradicating food-borne salmonella. The
Saudi Arabian Standard Organization (SASO) has evaluated SureBeam’s technology
and toured and inspected its Sioux City, Iowa, facility earlier this year. The
World Health Organization also approves SureBeam’s process.
Saudi Arabia’s poultry, lamb and fruit markets are significant: Official sources
estimate the Kingdom’s poultry production to be 1.2 billon pounds annually,
while date production is estimated to be 1.4 billion pounds.
“We believe SureBeam’s food safety technology is the most versatile and best
business solution available,” said Larry Oberkfell, SureBeam’s president, and
CEO. “This new strategic relationship addresses Saudi Arabia’s food safety needs,
while furthering SureBeam’s penetration of the international market.”
Since its introduction in the United States, the availability of SureBeam pasteurized
ground beef products has expanded rapidly, reflecting growing consumer demand.
SureBeam(R) electronically pasteurized products are now sold across the nation
in thousands of supermarkets, as well as by home delivery, direct mail, and
through food service.
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By GlobalData
SureBeam Corporation was created, built, and launched by The Titan Corporation
(NYSE: TTN) in an initial public offering on March 16, 2001.
Headquartered in San Diego, California, SureBeam is a leading provider of electronic
pasteurization systems and services for the food industry. SureBeam’s technology
significantly improves food safety, prolongs shelf life, and provides disinfestation
that helps to protect the environment. The SureBeam(R) patented electronic pasteurization
system is based on proven electron beam and x-ray technology that instantly
destroys harmful food-borne bacteria. This technology can also eliminate the
need for toxic chemical fumigants used in pest control that may be harmful to
the earth’s ozone layer.
“Safe Harbor” Statement under the Private Securities Litigation Reform Act
of 1995: The statements contained in this release, which are not historical
facts, 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.
Examples of such forward-looking statements include the anticipated Saudi Arabian
approval, acceptance and use of SureBeam’s technology. These statements are
subject to risks and uncertainties that could cause actual results to differ
materially from those set forth in or implied by forward-looking statements.
These risks and uncertainties include the risks associated with the Company’s
entry into new commercial food pasteurization markets that require the company
to develop demand for its product, its ability to defend and maintain its patents,
and other risks described in the Company’s Securities and Exchange Commission
filings.
