19th Mar 2015 08:26
LONDON (Alliance News) - PuriCore PLC shares were trading higher early Thursday after the company said it has signed a new Sterilox Fresh sales agreement with an unnamed top-three US supermarket retailer worth around USD17.8 million over six years.
The biotechnology company said the customer will acquire the Sterilox Fresh systems and an extended five-year warranty contract. The installation of the equipment will start in the second quarter of 2015 and is expected to be completed in the first quarter of 2016.
"We are delighted to announce this significant agreement with a leading retailer. Importantly, this contract re-affirms the considerable value realised by customers who use our solution. With the launch of our concentrate product line, we are able to offer our customers expanded options to obtain our solution, but remain able to meet the needs of customers who prefer to purchase equipment based on their level of usage and preference," said Michael Ashton, Chief Executive of PuriCore.
Sterilox Fresh kills pathogens and other organisms that can harm fresh fruit and vegetables, and retailers use the product to enhance the shelf life and quality of produce in their fresh aisles.
PuriCore shares were up 24% to 37.95 pence in early trade, one of the best performers in the London Main Market.
By Sam Unsted; [email protected]; @SamUAtAlliance
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