USA: Largest Sumatran Fair Trade Organic Coffee Organization Visits Green Mountain Coffee Roasters
During a presentation to Green Mountain Coffee Roasters' employees, Mr. Saad and Thomas Fricke expressed their gratitude for Green Mountain Coffee's initial funding and continued support of GOCFA. The Sumatra Sustainable Organic Coffee Project is in its third year of operation, since receiving start-up financing from Green Mountain Coffee Roasters in July of 1997. Over the past year, the project successfully registered with the Fair Trade Labeling Organizations International (FLO), and put in place a Green Mountain Coffee-funded community seedling nursery in Bintang Bener village that produced over 80,000 coffee and shade tree seedlings for the cooperative's members. Through June of 2000, the Sumatra Sustainable Organic Coffee Project accounted for 17% of all Fair Trade coffee imported into the United States under the auspices of TransFair USA, of Oakland, California. Green Mountain Coffee markets certified organic Fair Trade coffee from GOCFA as Organic Sumatran Reserve(TM), which has been endorsed by Conservation International(TM) for the manner in which it is grown.
The Sumatra Sustainable Organic Coffee Project has shown significant growth in production, sales, membership and organizational capacity since its founding. Originally, membership consisted of 100 small-scale coffee producers located in two villages. By the end of last year, there were 455 members from five villages. There has been an almost six-fold increase in production since the Project produced 99 tons its first year of operation. This year, through June, the project has produced 512 tons, or about 31 containers of certified organic arabica coffee.
Robert Stiller, President and CEO of Green Mountain Coffee, Inc. said, "It was exciting to hear about the growth of the Sumatra Sustainable Organic Coffee Project, particularly given the unrest that has affected this part of the world. The cooperative's progress has exceeded our greatest hopes, despite these significant challenges. The success of this project has inspired us to continue our work helping others become successful, as a measurement of our own success as a company."
Green Mountain Coffee, Inc. is a leader in the specialty coffee industry. The Company roasts high-quality arabica coffees and offers over 60 varieties including single-origin, estate, certified organic, Fair Trade, proprietary blends, and flavored coffees that it sells under the Green Mountain Coffee Roasters® brand. The majority of Green Mountain Coffee's revenue is derived from its wholesale operation which services restaurant, supermarket, specialty food store, convenience store, food service, in-room hotel hospitality, university, airline, train, and office coffee service customers. Green Mountain Coffee also operates a direct mail operation and e-commerce website (http://www.GreenMountainCoffee.com) with secure on-line ordering for customers from its Waterbury, Vermont headquarters.
Certain statements contained herein are not based on historical fact and are "forward-looking statements" within the meaning of the applicable securities laws and regulations. Owing to the uncertainties inherent in forward-looking statements, actual results could differ materially from those set forth in forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, fluctuations in availability and cost of green coffee, competition and other business conditions in the coffee industry and more generally in the food and beverage industry, the impact of the loss of one or more major customers, the Company's level of success in continuing to attract new customers, economic conditions, variances from budgeted sales mix and growth rate, customer acceptance of the Company's new products, the impact of a tighter job market, weather and special or unusual events, as well as other risk factors as described more fully in the Company's filings with the Securities and Exchange Commission.
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