Merion, Inc. Enters into a Strategic Cooperation Agreement with Mongolia-China the Belt and Road Council for the Promotion of International Trade and Development and Mongolia IFBB Health Industry Co., Ltd
December 07, 2018 at 04:30 pm EST
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On December 5, 2018, Merion, Inc. entered into a Strategic Cooperation Agreement with Mongolia-China the Belt and Road Council for the Promotion of International Trade and Development, Mongolia IFBB Health Industry Co. Ltd. (Mongolia IFBB") and Ms. Bijin Wei, pursuant to which the Company agreed to cooperate with the other parties to the Agreement in connection with the restructuring of Mongolia IFBB into a joint venture and develop and produce sports nutrition and health foods in the Zamenwude International Free Zone, located in Mongolia (the Project"). In connection with the Project, the Company will obtain a 15% minority interest in Mongolia IFBB, and will have the right to appoint one member to Mongolia IFBB's board of directors and appoint its technical director. The Company's other duties under the Agreement include (i) providing a research and development team for sports nutrition and health foods, services of an independent laboratory in the U.S. and rights to use patented formulas for health food products owned by the Company; (ii) providing assistance during the construction of the production line of the joint venture to meet US FDA standards and training of local team; (iii) providing product test reports, certificates of conformity and other documents required for the international sale of the Project's sports nutrition and health food products, along with associated support for international customs; (iv) producing and supplying sports nutrition and health foods ordered by Mongolia IFBB; and (v) the use of the Company's trademarks by Belt and Road Council and Mongolia IFBB on the products supplied by the company.
Merion, Inc. is a provider of health and nutritional supplements and personal care products. The Company focuses on nutritional and beauty products, and OEM and packaging products. The Company mainly sells its products over the Internet directly to end-user customers through its Website, www.merionus.com, and to wholesale distributors through phone and electronic communication. The Company's major customers for its nutritional and beauty products are located in the Asian market, predominantly in the People's Republic of China. The Company's major customers for its original equipment manufacturer (OEM) and packaging products are located in the United States. The Company's products include Noir Naturel, Viwooba (1-3), Lady-S, ReMage-Power, Gold King, Tai Bao, and New Power. The Company also provides OEM and packaging services for hard capsules, tablets, solid beverages (sachet packaging), teabags, powder, granules, dietary supplements, soft gel capsules, and health foods.
Merion, Inc. Enters into a Strategic Cooperation Agreement with Mongolia-China the Belt and Road Council for the Promotion of International Trade and Development and Mongolia IFBB Health Industry Co., Ltd