Development Contract with Fortune 150 Company (2858G)
11 Maggio 2011 - 8:00AM
UK Regulatory
TIDMBYOT
RNS Number : 2858G
Byotrol PLC
11 May 2011
11 May 2011
Byotrol plc
Global leader chooses Byotrol
for consumer products development contract
Byotrol plc ('Byotrol'), the developer of anti microbial hygiene
technologies, is pleased to announce that it has agreed a
significant joint development contract between a Fortune 150
company (the 'Partner') and its 50% owned subsidiary Byotrol
Consumer Products Ltd ('BCP'). The goal of this agreement is to
develop a range of products containing Byotrol's unique technology
for global consumer markets.
Under the 9 month contract, BCP will receive between US$500,000
and US$1,000,000 in upfront, milestone-based payments, and offsets.
The agreement entitles the Partner to exclusivities in certain
global consumer markets and product forms, whilst providing funding
for BCP's product development activities. Both parties will commit
technical, testing, market insight and customer testing resources
to the project.
On 21 December 2009 it was first announced that the two
companies had entered into an option agreement, and in the
intervening period they have been working jointly to evaluate the
technology.
This contract is complementary to other development and
distribution contracts recently announced by Byotrol, including the
Robert McBride Group, P Z Cussons, and Tommee Tippee with
Mayborn.
Commenting on the contract, Gary Millar, CEO of Byotrol,
said:
"This contract is a landmark deal for the business both in terms
of its commercial potential and the collaborative nature of the
joint development agreement.
"Our strategy recognises that the full potential for Byotrol
will be best achieved by working closely in partnership with
leading companies and this agreement is an important step towards
bringing Byotrol to consumers globally.
"I am very pleased to add that negotiations in reaching this
agreement have been extremely positive; our partners in this have
made a significant commitment of capital, management time and
resource in developing Byotrol based products under their brand
label. This demonstrates considerable faith in Byotrol and its
technology by a successful multinational corporation and is a
further endorsement of the potential for Byotrol."
Enquiries:
Byotrol plc 0161 277 9518
Gary Millar, Chief Executive
Richard Bell, Finance Director
Arbuthnot Securities 020 7012 2000
Nominated Adviser and broker
Antonio Bossi / Henry Willcocks
Winningtons 020 3176 4722
Tom Cooper / Paul Vann 0797 122 1972
Notes to Editors:
Byotrol plc (BYOT.L), quoted on AIM, is a leading microbial
technology hygiene company, operating globally in the Health, Food,
Leisure, Consumer, Industrial and Agriculture sectors, providing a
low toxicity product with a broad-based and long lasting efficacy
across all microbial classes; bacteria, viruses, fungi, moulds,
microbacteria and algae.
The Byotrol product can be used as a standalone product or as a
complementary biocide additive to existing products to improve
their performance in personal hygiene, domestic and industrial
disinfection, odour control, food production and food
management.
Founded in 2005, the Company has prioritised the development of
a technology that creates easier, safer and cleaner lives through
partnering with providers of essential goods and services. Byotrol
is the catalyst behind the aptly named global 'Hygiene
Revolution'.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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