Waterlogic PLC (WTL) - Signed supply agreement with Indesit Company
RNS Number : 1080O
08 October 2012
8 October 2012
("Waterlogic" or the "Company")
Signs supply agreement valid until end of 2015 with Indesit Company, one of
Europe's leading manufacturers and distributors of major domestic appliances
Waterlogic Plc (AIM: WTL.L), a leading designer, manufacturer and global
distributor of point-of-use ("POU") drinking water purification and dispensing
systems, is today pleased to announce that it has signed a supply agreement
valid until the end of 2015, with Indesit Company S.p.A. ("Indesit Company"),
one of Europe's leading manufacturers and distributors of major domestic
The exclusive agreement is for the supply and distribution of advanced water
purification devices designed for the kitchen incorporating Waterlogic's
innovative Firewall™ ultra-violet ("UV") technology. Furthermore, the two
companies will continue to investigate other opportunities in the B2C market.
The agreement covers 50 countries including all of Europe and parts of Asia.
The first commercial orders have already been received.
This represents for Waterlogic another major supply and distribution agreement
for products incorporating the Firewall™ UV technology for the residential
market. It is being undertaken with a key European player that manufactures
and distributes its own internationally well-recognised brands (its main
brands are Hotpoint, Indesit and Scholtès) through major retail outlets.
All relevant units will display the Firewall™ branding as well as Indesit
Company's product branding. The first products are expected to be launched in
Jeremy Ben-David, Waterlogic, Group CEO, commented:
"We are very excited to have signed this major supply contract with Indesit
Company who is a leading player in the European domestic appliance market.
This will help to accelerate significantly the commercialisation of our
innovative Firewall UV technology and further emphasises the quality of
Waterlogic's products and business as we strengthen our position in the
consumer market. Supplying water dispensers incorporating the most effective
water purification technology currently on the market will ensure Indesit
Company has a unique advantage.
This is a fantastic opportunity for Waterlogic to exploit further the
significant opportunities that Firewall is opening up in Europe and beyond in
the B2C market."
Waterlogic Plc Tel: +44 (0)20 7074 1800
Jeremy Ben-David, Group Chief Email: email@example.com
Liberum Capital (Nominated Adviser Tel: +44 (0)20 3100 2000
Kreab Gavin Anderson (PR Adviser) Tel: +44 (0)20 7074 1800
James Benjamin Email: firstname.lastname@example.org
Notes to editors
Indesit Company S.p.A.is one of Europe's leading manufacturers and
distributors of major domestic appliances (washing machines, dryers,
dishwashers, fridges, freezers, cookers, hoods, ovens and hobs). It is the
undisputed leader in major markets such as Italy, the UK, Ukraine and Russia.
Founded in 1975 and listed on the Milan stock exchange since 1987, the Group
posted sales of €2.8 billion in 2011. Indesit Company has 14 production
facilities (in Italy, Poland, the UK, Russia and Turkey) and 16,000 employees.
The Group's main brands are Indesit, Hotpoint and Scholtès.
Waterlogic Plc (AIM: WTL.L) is a leading designer, manufacturer and
distributor of mains attached point-of-use ("POU") drinking water purification
and dispensing systems designed for environments such as offices, factories,
hospitals, hotels, schools, restaurants and other workplaces. Waterlogic is a
Jersey registered company. Waterlogic's products and services are built on the
simple vision of a three stage approach to purity:
1 Filtration to remove unwanted contaminants, chlorine and other water-borne
tastes and odours.
2 Waterlogic's Firewall™ ultra-violet (UV) technology is one of the most
effective water purification technologies for POU water dispenser
applications currently on the market and its dispensers are certified by the
Water Quality Association as being able to guarantee 99.9999% pure water
100% of the time, a fact which has been confirmed by over 5,000 physical
tests in independent laboratories. The innovative Firewall™ technology
incorporates a highly-specialised, compact UV system in the faucet/tap,
which ensures that water passes through the UV system immediately before it
is dispensed into a cup. This point of differentiation for Firewall™ is
unique in the POU market.
3 BioCote silver antimicrobial protection. Plastic surfaces surrounding
dispensing areas of Waterlogic units are infused with a silver additive
called BioCote, a natural anti-microbial that inhibits the growth of
microorganisms, giving yet another layer of hygienic defence.
Founded in 1992, Waterlogic was one of the first companies to introduce POU
systems to Europe and has been a leader in the POU market in terms of product
design and quality, the application of new technologies and in sales and
service. Waterlogic has an extensive and expanding independent global
distribution network in place, reaching 52 countries around the world.
Waterlogic products are currently being sold in North and South America,
Europe, Asia, Australia and South Africa. Waterlogic's leading markets are the
USA and Western Europe, in particular Germany, France, Scandinavia and the UK.
Of the 1.9 million new POU and bottled water installations in the
business-to-business market in the USA and Europe between 2005 and 2011,
approximately 73% incorporated POU technology.
The Directors believe that the movement away from bottled water coolers (BWC)
to POU water dispensers is set to continue its current trend as a result of
cost, convenience, health benefits and environmental considerations.
For the financial year ended 31 December 2011, the Group generated revenues
and adjusted EBITDA (adjusted for share based incentives expense, capital
reorganisation related costs and acquisition related costs) of USD 84.9
million and USD 13.4 million, respectively, and had approximately 595,000
machines installed as at 30 June 2012.
As part of Waterlogic's on-going commitment to providing safe water, the Group
has pledged to donate USD 225,000 over the next three years to WaterAid.
WaterAid is a renowned international non-profit organisation that transforms
lives by improving access to safe water, hygiene and sanitation in the world's
poorest countries. Since 1981 WaterAid has reached 15.9 million people
globally with safe water. Website: www.wateraidamerica.org/
This information is provided by RNS
The company news service from the London Stock Exchange
AGRUGGCGUUPPGBM -0- Oct/08/2012 06:00 GMT
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