BOU.L Regulatory News (BOU)

26 Nov 2007 07:30

Enfis Group PLC26 November 2007 Enfis Group plc ("Enfis" or the "Company") Significant Contract win of US$1 million, Trial and Distribution Agreements Signed Enfis, which designs, develops and manufactures intelligent high-power lightemitting diode (LED) arrays and smart light engines, is very pleased to announcethat it has signed a significant revenue generating contract, two trialagreements and a series of distributor agreements. Enfis has signed a US$1 million contract to supply LED arrays to a US baseddental products manufacturer. Under the three year agreement, Enfis will supplya range of arrays with a minimum aggregate value of over US$1 million. Thecustomer develops, manufactures and markets high-tech dental products andprocedures. This contract demonstrates one of the positive uptakes by the marketof Enfis' intelligent high-power LED arrays. Enfis, which has been in negotiations for several months, is delighted toannounce it has signed agreements with two of the major European lightingmanufacturers to trial Enfis' highly efficient light engines. The global LEDlighting market is expected to be worth US$985 million in 2011 and the Boardbelieves that successful adoption of Enfis' Light Engines by these lightingmanufacturers could result in significant revenue generation in the future. Agreements with lighting manufacturers represents the final and most importantroute to market for Enfis. All three routes have been opened less than ninemonths since admission to trading on AIM, giving Enfis the ability to accesstheir target markets. Partnerships with lighting manufacturers are a criticalstepping stone to volume distribution. Additionally, Enfis has signed three more distributor agreements increasing thetotal number of distributors signed to 16; LASOS GmbH in Central Europe,Iwanejko Electronics in Poland and AMS Technologies in Europe. As a result ofthese significant developments, Enfis has achieved its goal of signingdistributor agreements set out in the admission document which has resulted in aglobal footprint for the future. For the year end 31 December 2007, the Board believes the Company's revenue islikely to be in line with market expectations; additional costs associated withthe demonstration products will mean the loss before tax will be greater thanexpectations. However, due to strong cash management, net cash should be higherthan previously forecasted. Commenting on the progress, Shaun Oxenham, CEO of Enfis, added, "This significant contract win and the trial and distribution agreementsdemonstrate strong momentum in business development with our different marketinginitiatives producing high levels of interest in our capabilities from companiesin different sectors and geographies. We are seeing our products beingpositively adopted by the market and we are very excited by this progress. Wecontinue to be positive about the future." - ENDS - Enquiries: Enfis Group plc Tel: 01792 485660Shaun Oxenham, Chief Executive OfficerGiles Davies, Chief Financial Officer Noble & Company Limited Tel: 020 7763 2200John Llewellyn-Lloyd / Andy Yeo Pelham Public Relations Tel: 020 7743 6679Archie Berens / Robert Koh About our distributors LASOS GmbH, based in Germany, is a supplier of high powered optical instrumentsand optical elements. http://www.lasos.com Iwanejko Electronics act as sales representatives for companies of advancedtechnology, especially in electronics, electrical engineering, optics andprecise mechanics. Iwanejko also offer consultancy and designing services withspecialists from Poland, Germany, UK, Russia, Canada, USA and China. Iwanejko isbased in Poland. http://www.iwanejko.com AMS Technologies brings high tech solutions to customers in Europe. As adistributor AMS (in most cases exclusively) represent global leaders andcompanies that develop innovative technologies in the fields of opticalcomponents & systems, electronic components & systems for high voltage & highreliability and Thermal management. Based in Germany, AMS operates in 5 Europeancountries: Germany, UK, France, Italy and Spain. http://www.ams.de Distributors signed to date: Applied Technological Services LTD. Cutter Electronics RS Components Ltd. Telegent Technology Corp. Reisoleil Inc. Solius Brightek Optoelectronik Co Farnell UK Ltd. Digi-Key Mediprema Mobicon Roithner Pacer International LASOS GmbH Iwanejko Electronics AMS Technologies About Enfis Enfis is a global leader in the design, development and manufacture ofintelligent, high-power light emitting diode (LED) light engines and arraysacross a wide range of wavelengths. With a global headquarters in the UK, andcarefully chosen specialist partners and distributors, its unique range ofplug-and-play, 'straight from the box' light engine solutions are manufacturedand sold around the world. Using cutting-edge technology developed via an enviable academic heritage andfollowing a successful floatation on the London Stock Exchange, Enfis continuesto lead the way in enabling smart, efficient solutions for Solid State Lighting. This information is provided by RNS The company news service from the London Stock Exchange