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Corporate Social Responsibility
News
3.24.2006 ET
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Ferrazone Iron Compound Receives FDA Acceptance
(CSRwire) Arnhem, the Netherlands - Akzo Nobel has received official
acceptance from the Food and Drug Administration (FDA) in the United
States regarding the self-affirmed GRAS (Generally Recognized as Safe)
status of the company's FerrazoneĀ® iron compound.
Ferrazone-which is used as an iron fortificant in foods and beverages to
reduce iron deficiency--has been granted GRAS status by an independent
panel of scientific experts, and is marketed as a GRAS product in the
United States. FDA acceptance is an important acknowledgement of a
thorough safety review, and is recognized by food companies and many
national governments worldwide.
With regard to Ferrazone (food-grade ferric sodium EDTA) the FDA accepted
an expert panel's ruling that the product is GRAS for its intended use as
a nutrient in soy, fish, teriyaki, hoisin, and sweet and sour sauces.
Developed by Akzo Nobel's Functional Chemicals business, Ferrazone is
added to food or beverages to effectively tackle the chronic problem of
iron deficiency- one of the most common nutritional disorders in the
world. The company believes that the product has the potential to
eliminate iron deficiency anemia by as much as 80 percent in populations
where the problem is widespread and foods such as fish and soy sauce are
widely consumed. New programs are also underway to use Ferrazone in wheat
and maize flour fortification.
A condition which affects around 3.5 billion people in the developing
world, UNICEF estimates that iron deficiency undermines the health of 500
million women of reproductive age and leads to the deaths of more than one
million children and 60,000 women in pregnancy and childbirth each year. It
also irreversibly impairs the cognitive development of young children.
The iron compound has already been added to soy sauce in China and
Indonesia, and is also being added to fish sauce in Vietnam as part of a
five-year national program. In addition, in early 2005, Akzo Nobel donated
Ferrazone to meet the iron requirements of 250,000 families affected by the
Tsunami in Aceh, Indonesia. The company is also working with a number of
health ministries around the world to reduce iron deficiency using
Ferrazone.
Ferrazone is a low cost, highly bioavailable form of iron which usually
leaves no taste when added to food and remains stable under adverse
storage and cooking conditions. Research has shown that Ferrazone is often
absorbed into the human body two to three times better than other forms of
iron, and is effective in reducing iron deficiency.
Note for the editor
Akzo Nobel is a Global Fortune 500 company and is listed on both the
Euronext Amsterdam and NASDAQ stock exchanges. It is also included on the
Dow Jones Sustainability Indexes and the FTSE4 Good Index. Based in the
Netherlands, we are a multicultural organization serving customers
throughout the world with human and animal healthcare products, coatings,
and chemicals. We employ around 61,500 people and conduct our activities
in four segments − human and animal health, coatings and chemicals
− subdivided into 13 business units, with operating subsidiaries in
more than 80 countries. Consolidated revenues for 2005 totaled EUR 13.0
billion. The financial results for the first quarter will be published on
April 20, 2006.
Internet: www.akzonobel.com
Safe Harbor Statement*
This press release may contain statements which address such key issues as
Akzo Nobel's growth strategy, future financial results, market positions,
product development, pharmaceutical products in the pipeline, and product
approvals. Such statements should be carefully considered, and it should
be understood that many factors could cause forecasted and actual results
to differ from these statements. These factors include, but are not
limited to, price fluctuations, currency fluctuations, progress of drug
development, clinical testing and regulatory approval, developments in raw
material and personnel costs, pensions, physical and environmental risks,
legal issues, and legislative, fiscal, and other regulatory measures.
Stated competitive positions are based on management estimates supported
by information provided by specialized external agencies. For a more
comprehensive discussion of the risk factors affecting our business please
see our Annual Report on Form 20-F filed with the United States Securities
and Exchange Commission, a copy of which can be found on the company's
corporate website www.akzonobel.com. The 2005 Annual
Report on Form 20-F will be available in the second quarter of 2006.
* Pursuant to the U.S. Private Securities Litigation Reform Act 1995.
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