Last checked at 22 Apr 2010 07:00
22nd April 2010
Pursuit Dynamics PLC
("Pursuit" or "the Company" or "PDX")
PDX teams with Kärcher for decontamination joint venture
PDX today announces an agreement to form a 50/50 joint venture with Kärcher Futuretech GmbH ("Kärcher"), a wholly owned subsidiary of Alfred Kärcher GmbH, the world's leading manufacturer of high-pressure cleaning equipment, to jointly develop, produce and market civilian and military decontamination and disinfection products for a global market.
The joint venture combines Kärcher's experience as a world leader in decontamination solutions with PDX's best in class technology to form a new product range focused on quality, mobility, portability and efficiency.
Revenues from the joint venture are expected towards the end of calendar 2010, and will build strongly through 2011. The joint venture will address a multi billion dollar global market that is enjoying rapid growth and which is estimated by the US Chamber of Commerce to be worth over US$4 billion in the US alone.
Helmut Stelzmüller, Managing Director of Kärcher, said:
"We are pleased to be teaming up with PDX, combining its innovative technologies with our strong experience in the sector. As a joint venture, we will be able to deliver a world leading suite of top quality products for both civilian and military markets, delivering superior cost efficiencies for competitive prices".
Commenting on the announcement, Roel Pieper, CEO of PDX, said:
"Kärcher is the perfect partner for PDX due to its expertise in the field of decontamination and its track record of creating innovative products. This joint venture has the potential to create a major player in the fast growing global civilian and military decontamination solutions market. We believe the unique products marketed by the joint venture can capture a significant share of the market in the short to medium term".
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For Further Information, please contact:
Pursuit Dynamics PLC
Roel Pieper, Chief Executive Tel: +44 (0)1480 422050
Donald Bell, Chief Financial Officer
Financial Dynamics Ben Foster / Marc Cohen Tel: +44 (0) 20 7831 3113
Cenkos Securities plc
Ian Soanes / Max Hartley Tel: +44 (0)20 7397 8924
Mirabaud Securities LLP
Rory Scott Tel: +44 (0) 20 7878 3360
Notes to Editors
About PDX
·; Pursuit Dynamics PLC (AIM: PDX) owns and commercialises the PDX fluid processing reactor whose benefits include significant reductions in energy usage, process acceleration and result enhancement for industries such as Bio ethanol production, Food & Drink, Brewing, Fire Suppression and Decontamination.
·; Pursuit Dynamics is headquartered in Huntingdon, UK and has an office in Norwalk, Connecticut, USA.
·; Further information is available at the Company's website: www.pursuitdynamics.com or www.pdx.biz
About Alfred Kärcher GmbH
Kärcher Futuretech GmbH, a wholly owned subsidiary of Alfred Kärcher GmbH, develops and produces equipment and devices for aid organizations and armed forces. The portfolio includes mobile catering facilities, decontamination systems and water treatment plants.