30th Jan 2014 10:57
LONDON (Alliance News) - MyCelx Technologies Corporation PLC Thursday said as a result of increased recurring media sales in the second-half of 2013, it expects to exceed guidance for the year ended December 31 2013.
The clean water technology company providing patented solutions for commercial industrial markets worldwide said its strong pipeline has continued to produce contract wins and geographic expansion in the Middle East with two new purchase orders.
The first contract, worth USD1.3 million, was signed with an unnamed Kuwaiti state petrochemical company. This deal is for initial six months, with the potential for a further longer term agreement. Installation will occur in the first quarter of this year.
In addition, MyCelx has received an order for a sixth installation in Jubail, Saudi Arabia.
The USD325,000 contract is from a new unnamed customer and is for the sale of equipment to treat petrochemical process water. Installation set to take place by the third quarter this year.
The company will publish its full-year results on March 20.
The stock was trading at 470.00 pence Thursday, up 15.00 pence or 3.3%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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