Business
Nestle adopts technology
Nestle adopts technology.
About this update from Time Finance Plc
[{"type":"text","content":"\n Timestrip PLC\n05 May 2006\n\n\n Timestrip plc\n 'Timestrip'\n\n Nestle adopts technology\n\nTimestrip plc is pleased to announce an update on the full-scale commercial\ntrials which commenced with Nestle Foodservices UK at the end of last year.\n\nNestle has confirmed that it will now establish the 3-day Timestrip(R) smart\nlabel as standard packaging on the product range that was chosen for the initial\ntrials - the internationally renowned Maggi(R) brand of 'Ready to Use' sauces.\n\nAlthough revenues are conservative in the first instance, this is a significant\ndevelopment for the Timestrip Group as it demonstrates the relevance of the\ntechnology as a customer focused packaging innovation.\n\nAt the same time, Timestrip is pleased to announce that it will embark upon\nanother joint product development initiative with Nestle FoodServices UK, of\nwhich further details will be announced in due course.\n\n\nPaul Freedman, Joint CEO of Timestrip plc, commented:\n\n'We have an excellent working relationship with the Nestle team and are\ndelighted that the technology has been so well received. Timestrip has made\nsignificant progress since float and I have no doubt our smart label technology\nis set to become a key component in next generation packaging across many market\nsegments'.\n\n\nAndrew Bailey, Food Commercial Controller, Nestle Foodservices UK, commented:\n\n'Nestle continues to lead the way in innovative product development and our\npartnership with Timestrip at a time of increased food hygiene regulation\ndemonstrates our focus on providing our customers high quality products with a\nmeaningful point of differentiation.'\n\n\nEnquiries:\n\nPaul Freedman/Reuben Isbitsky, Joint CEOs, Timestrip plc 01462 440 700\nShane Dolan, Biddicks 020 7448 1000\nFergus Marcroft, Evolution Securities 020 7071 4300\n\n\n\nNotes to editors\n\nNestle FoodServices is a division of Nestle, the world's largest food and\nbeverage company. It supplies well-known brands including NESCAFE, CHEF, Maggi,\nHerta, Nestle Bakery and Aero Bubbly Hot Chocolate to the foodservice industry.\nThe company's portfolio also encompasses vending solutions such as Refuel:POD\nand Nescafe Accolade, in addition to the Nescafe Coffee Company beverage systems\nand ingredients.\n\nTimestrip plc has developed an inexpensive and versatile technology for\naccurately...