Halo Minerals Share News (HALO)

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9.625 0.00 (0.00%)

Bid:

9.50

Ask:

9.75

Spread: 0.25 (2.632%)

Market Cap: £10.66m

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HaloSource Wins Contract With Morf India

Tue, 01st Oct 2013 07:57

LONDON (Alliance News) - HaloSource said Tuesday it had won a contract with Morf India in a water purification supply deal.

The AIM-listed clean water technology firm and and the Indian water engineering company are set to expand their drinking water purification offerings to consumers in Sri Lanka and India through the Kelvinator brand.

The supply agreement represents more than USD500,000 of revenue for HaloSource over the next 12 months.

In 2012, Morf entered into a brand licensing agreement with Electrolux Home Products to market the Kelvinator range of water and air purifiers in the regions. The company has been using HaloPure in-line bacteriostatic cartridges for its RO water purifiers for the past two years. In order to serve a broader market, the company said it will launch a portable pitcher incorporating HaloPure technology before the end of 2013.

HaloSource shares closed at 18.5 pence per share Monday.

By Alice Attwood; aliceattwood@alliancenews.com; @AliceAtAlliance