22nd Apr 2005 11:31
Stanelco PLC22 April 2005 22 April 2005 Stanelco plc (the 'Group') AGM Statement At today's AGM, Philip Lovegrove, Chairman made the following comments: "In the last year, the Group has made substantial advances towards its goal ofbecoming an intellectual property business, exploiting the Group's coretechnologies. At the forefront of this is our revolutionary GREENSEAL technologywhere we continue to move towards full commercialisation. We announced in March that ASDA Stores Ltd (ASDA) would be the first to adoptGREENSEAL in the UK, anticipating several hundred machines to be adapted to usethe technology during the first year at the earlier of the completion of threefurther trials with ASDA suppliers or the signing of the first commercial order.The first of these trials nears completion at Youngs Bluecrest, a leading ASDAsupplier. Feedback from ASDA continues to be very encouraging. As a result of previoussuccessful ASDA trials using the GREENSEAL technology to seal lids on ready meal trays, ASDA have extended the trial work to other product areas. YoungsBluecrest Seafood Ltd who are an ASDA own label supplier and major brand intheir own right have successfully completed additional trials across a widerange of products producing results exceeding expectations and in turn leadingto other products in ASDA brand packs on the shelves today. These resultsfurther demonstrate the growing number of benefits to ASDA, its suppliers andconsumers alike. Following our recent agreements with both Premier Technology Inc. and AdvancedEnergy Industries in the US, we are positioning ourselves to roll out thetechnology in a number of markets including North America. I am also pleased to report additional progress with Frogpack - ourimpact-resistant packaging solution, which has recently successfully comethrough rigorous third-party testing and is being made available to customersvia our licensed distributors. With these new products and a number of others in development the Board looks tothe future with increasing confidence." Philip Lovegrove Chairman Ends For further information please contact: Ian Balchin, Chief Executive Stanelco PLC Tel: +44 (0)2380 867100 Jonathon Brill/Billy Clegg Financial Dynamics Tel: +44 (0)20 7831 3113 Notes to Editors: About Stanelco Stanelco was founded in 1953 and is a world leader in the development of radiofrequency technologies for processing polymers for edible and packagingapplications and the design and manufacture of optical fibre technology,induction heating and dielectric welding equipment. The Company's current corebusiness is the manufacture of optical fibre using Radio Frequency (RF)technology. Stanelco has been applying its technology to other markets. Currentdevelopments include biodegradable air cushion packaging, sealing of low-costconventional plastics for food packaging, water-soluble detergent capsules,foamed starch trays, edible sachets and waste packing. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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