12th Dec 2006 07:00
Servocell Group PLC12 December 2006 SERVOCELL CUSTOMER WINS EUROPEAN DISTRIBUTION DEAL Servocell Group plc ("Servocell" or "the Company"), provides Active Latch technology that controls with low energy inputs the movement or motion of mechanisms, such as locks Servocell Group plc is pleased to confirm that Beloxx GMBH's distribution dealfor its Be-Code product announced at the Company's recent interim results, hasbeen successfully concluded with Adolf Wurth GmbH. Wurth GmbH, which reported a turnover of €6.5bn in 2005,operates through aglobal network of 368 companies and will distribute the Be-Code product acrossits European catalogue furniture business. This is a significant development for the Company as it will contribute to theprogress being made towards meeting the market's revenue expectations for 2006/2007. This agreement also provides wider sales opportunities for the ActiveLatch technology, which Servocell will pursue. The Be-Code product, which incorporates Servocell's Active Latch AL1 technologyis an easily fitted cabinet handle, has been in development in conjunction withBeloxx for the last 9 months. It is currently in volume production atServocell's sub-contract Malaysian manufacturing facility. Simon Powell, CEO of Servocell Group, said: "The collaboration between Beloxx and Wurth represents an excellent way ofbuilding channels rapidly for Active Latch products. Beloxx and Servocell havecollaborated very closely on the development of this product to ensure it meetsthe market needs and the project forms a model for future collaborations inother market sectors." Matthias Blunck Managing Director and owner of Beloxx commented: "The Be-Code product represents a leap forward in the simplification ofelectronic locks and we have been very impressed by the level of response fromthe market. Our collaboration with Wurth will greatly accelerate the uptake ofthe product and provide an excellent infrastructure for the support of endusers." In addition to the distribution deal with Wurth, the Beloxx BeCode product willalso be marketed by Burg GMBH who specialise in cabinet furniture for metallockers. Enquiries Simon Powell, Chief Executive, Servocell Group plc 01279 621 500Steven Weaver, Chief Financial Officer, Servocell Group plc Shane Dolan, Biddicks 0207 448 1000 About ServocellServocell (www.servocell.com) specialises in the design and manufacture of lowpower piezo based products for a wide range of electronic security and valvecontrol applications. Servocell's application of novel techniques in design andmanufacture generates low cost piezo based actuators which with low energyinputs produce relatively large movements and motion compared to other existingactuator technology. The applications of the piezo based products range frommore reliable electronic locks to gas valves in the 'smart' home, with theproducts targeted at both the industrial OEM and end user markets. About Active LatchThe Active Latch is a powerful and innovative alternative to traditionalsolenoid-driven and motorised release mechanisms. At the heart of its mechanismsare its patented piezo-ceramic actuators, providing an unrivalled combination ofmovement and force. Servocell's Active Latch technology can be used as theprincipal component of any lock to replace cylinders and motor apparatus.Reliability is ensured with 1M operations and the low power consumption meansyears between battery changes. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Servelec Group