Business
Major EUR 9.8m Contract for Products in Europe
Major EUR 9.8m Contract for Products in Europe.
About this update from Zenova Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3388T\n Zenova Group PLC\n 24 November 2021\n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 (\"MAR\") WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN\n \n \n 24 November 2021\n \n \n \n \n \n \n Zenova Group PLC (\n \n \n AIM: ZED)\n \n \n \n Zenova secures €9.8 million contract for its products in Europe\n \n \n \n \n \n \n Zenova Group PLC \n \n (\"Zenova\", the \"Company\" or the \"Group\"), a provider of innovative fire safety and heat management technology and products, is pleased to announce that it has secured a major contract for the supply of its products in four European countries. \n \n \n The three-year contract, which commences on 1 January 2022, is with a Spanish company that will become an Authorised Distributor of Zenova products and will promote and sell them to its clients in Spain, Germany, Austria, and Switzerland. Its clients include a German business that is \n a leading international specialist in the production of ready-to-use high-tech coatings, and has an established salesforce, \n warehousing and distribution infrastructure.\n \n \n Under the terms of the contract, the Authorised Distributor has committed to purchase a minimum value of €9.8 million of Zenova's products over the next three-years, with €1.8 million due in 2022. Products the Authorised Distributer will promote and sell in these countries include Zenova's insulating render (IR), insulating paint (IP) and fire-resistant paint (FP), plus fire safety products the Company plans to launch in 2022. \n \n \n \n Commenting on the news, Tony Crawley, Chief Executive of Zenova Group PLC said: \n \n \n \"When Zenova listed on AIM in July 2021, we were already discussing the quality, efficiency and ecological credentials of our fire safety and temperature management products with a number of potential customers around the world. In securing this new contract, it \n \n \n illustrates how we are gaining traction in bringing these customers on board, and the appetite for our products, even at this early stage.\n \n \n \n \n \"This contract also provides...