18th Mar 2020 20:38
(Alliance News) - Integumen PLC and Modern Water PLC said Wednesday they have signed agreement for Integumen to produce bacteria reagent for Modern Water's water-quality monitoring and decontamination systems.
The manufacturing agency agreement is estimated to be worth USD1.25 million per year over three years, with a 60-40 revenue split in favour of Modern Water.
Integumen will expand its laboratories in York, England to support the new production agreement.
Modern Water said the supply deal will allow it to fulfil an order backlog worth about USD665,000 which it is not currently able to meet.
Modern Water shares closed up 22% at 0.58 pence on Wednesday in London, while Integumen shares ended down 9.4% at 0.77p.
By Tom Waite; [email protected]
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