– UK – Sorbic International plc (AIM:SORB), the third largest sorbates producer in China, announces today that Jay Newman has been appointed to the Board as a Non-Executive Director, and will serve on the Company’s Remuneration and Audit Committees.
James Shields (Jay) Newman, aged 58, has over 30 years of experience in international business, particularly in finance and relating to Greater China. He has managed businesses, teams and investment portfolios through numerous cycles in Greater China, the UK and North America. Jay currently advises UK and Chinese boards on strategy and development. Previously he was Head of Global Equities and Managing Director of Alliance Trust PLC and a Director at Citigroup Asset Management. Jay also speaks Mandarin Chinese.
Mr Newman is currently Non-Executive Chairman of Grand Group Investment PLC and has had no other directorships in the past five years.
About Sorbic International plc
Sorbic International’s principal activity is the production and sale of the food preservatives Sorbic Acid and Potassium Sorbate from its base in Linyi City, Shandong Province, Peoples Republic of China. Approximately half of Sorbic International’s production is sold to overseas markets and half into the Chinese domestic market.
Sorbic Acid is a naturally occurring organic compound that is used in all kinds of foods for its anti-decomposition and anti-fungus function and also in grains, medicines, cosmetics, toothpaste, tobacco, animal feed, latex, paper-manufacturing and pesticides. Potassium Sorbate is used to inhibit moulds and yeasts in many foods, such as cheese, wine, yogurt, dried meat, baked goods, cosmetics and pharmaceuticals.
Sorbic International operates through its wholly owned subsidiary Linyi Van Science and Technique Co. Ltd (“LVST”).
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