IPS Shares Soar as Company Wins 5-Year Contract: Zurich Mover
IPS Innovative Packaging Solutions AG (IPS) soared in Zurich trading after winning a five-year contract for personal care products.
The shares rose 13 percent,the biggest intraday increase since April 2010, to 9.5 francs at 12:04 local time. More than 14,000 shares exchanged hands, the most since August. IPS has advanced 3.6 percent this year, giving it a market value of about 94 million francs ($101 million).
“An annual quantity of several million dispensers for men and women’s personal care products will be manufactured, filled, labeled and dispatched from the new, fully automated manufacturing facility of the IPS joint venture Air0lux in Bilten, Switzerland,” according to a statement today.
IPS didn’t say how much the deal was worth or identify the “leading retailer” who placed the order.
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