Business
Whirlpool Update
Whirlpool Update.
About this update from Time Finance Plc
[{"type":"text","content":"\n Timestrip PLC\n16 November 2007\n\n\nTIME.L\n\n\n Timestrip plc (the 'Company')\n\n Whirlpool adopts Timestrip Technology\n\nTimestrip plc is pleased to report excellent progress with its strategic\npartnership with leading domestic appliance manufacturer Whirlpool Europe, which\nwas announced in February. Whirlpool has now adopted Timestrip's smart label\ntechnology as a replacement indicator in two of its domestic appliance filters.\n\nThe Company has successfully shipped orders for a six-month indicator that will\nbe supplied with the Whirlpool Microban Antibacterial and Antiodor Filter as\nwell as a six-month indicator for a new frost absorber used in domestic chest\nfreezers.\n\nIn accordance with the February agreement, both companies are actively exploring\nopportunities to introduce the technology to a wider range of filter products\nand other devices sold by Whirlpool both in Europe and worldwide.\n\nPaul Freedman, Joint CEO Timestrip Plc said: 'Timestrip is clearly establishing\nitself as the new standard in replacement indicators for the global appliance\nsector. Timestrip smart labels help Whirlpool customers to change the consumable\nitem at the right time, which maximises the efficiency of their device and\nstrengthens their loyalty to the Whirlpool brand.'\n\nTimestrip smart labels are now supplied as replacement indicators to Whirlpool\nEurope, and to Hamilton Beach/Febreze(R), Hygolet, and Dryandstore(R) in the US.\nIn August, the Company announced a significant contract win, also in the\nappliance sector, to supply the unique Timestrip technology to one of North\nAmerica's leading consumer product companies. The deal, estimated to be worth a\nminimum of US$3million in revenues to the Company over the first three years,\ninvolves the integration of the Timestrip into a market leading product that is\ncurrently used in millions of homes across the world.\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\nWhirlpool Europe\nWith 14,000 employees, a sales presence in over 30 European countries and \nmanufacturing sites in seven countries, Whirlpool Europe is a wholly owned \nsubsidiary of Whirlpool Corporation, the world's leading manufacturer and \nmarketer of major home appliance...