4th Aug 2015 07:25
LONDON (Alliance News) - Anti-microbial technology company Byotrol PLC on Tuesday said it has signed a deal to develop and commercialise biocidal products with Belgian chemical company Solvay SA, sending shares in the AIM-listed company higher in early trade.
Under the terms of the deal, Solvay will make a significant investment in Byotrol's technical cost base in the current financial year, which will help Byotrol to post break-even earnings before interest, taxation, depreciation and amortisation for the six months to the end of March 2016.
Initially Byotrol will pool technical, commercial and sales resource with Solvay Novecare in targeting products at the EU consumer market, with this to be expanded in the future.
Biocidal products are used to neutralise or control the effects of harmful products.
Byotrol shares were up 13% on the news to 4.11 pence, one of the best performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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