Timestrip PLC
16 November 2007
TIME.L
Timestrip plc (the 'Company')
Whirlpool adopts Timestrip Technology
Timestrip plc is pleased to report excellent progress with its strategic
partnership with leading domestic appliance manufacturer Whirlpool Europe, which
was announced in February. Whirlpool has now adopted Timestrip's smart label
technology as a replacement indicator in two of its domestic appliance filters.
The Company has successfully shipped orders for a six-month indicator that will
be supplied with the Whirlpool Microban Antibacterial and Antiodor Filter as
well as a six-month indicator for a new frost absorber used in domestic chest
freezers.
In accordance with the February agreement, both companies are actively exploring
opportunities to introduce the technology to a wider range of filter products
and other devices sold by Whirlpool both in Europe and worldwide.
Paul Freedman, Joint CEO Timestrip Plc said: 'Timestrip is clearly establishing
itself as the new standard in replacement indicators for the global appliance
sector. Timestrip smart labels help Whirlpool customers to change the consumable
item at the right time, which maximises the efficiency of their device and
strengthens their loyalty to the Whirlpool brand.'
Timestrip smart labels are now supplied as replacement indicators to Whirlpool
Europe, and to Hamilton Beach/Febreze(R), Hygolet, and Dryandstore(R) in the US.
In August, the Company announced a significant contract win, also in the
appliance sector, to supply the unique Timestrip technology to one of North
America's leading consumer product companies. The deal, estimated to be worth a
minimum of US$3million in revenues to the Company over the first three years,
involves the integration of the Timestrip into a market leading product that is
currently used in millions of homes across the world.
Enquiries:
Paul Freedman/Reuben Isbitsky, Joint CEOs, Timestrip plc 01462 440 700
Shane Dolan, Biddicks 020 7448 1000
Fergus Marcroft, Evolution Securities 020 7071 4300
Whirlpool Europe
With 14,000 employees, a sales presence in over 30 European countries and
manufacturing sites in seven countries, Whirlpool Europe is a wholly owned
subsidiary of Whirlpool Corporation, the world's leading manufacturer and
marketer of major home appliances. Headquartered in Benton Harbor, Michigan,
the corporation manufactures in 13 countries and markets products under 5 major
brand names in more than 170 countries worldwide. It has an annual turnover of
more than 14.3 billion dollars, 68,000 employees and almost 50 production and
technological research centers globally. Whirlpool's European Operations' Center
is located in Comerio (VA), Italy. For further information on the company,
please visit the Web Site www.whirlpoolcorp.com.
This information is provided by RNS
The company news service from the London Stock Exchange