Last checked at 21 Nov 2017 07:00
21 November 2017
Strix Group Plc
("Strix" or the "Company")
Major milestone achieved - 2 Billion Products sold
Strix (AIM: KETL), the AIM listed global leader in the design, manufacture and supply of kettle safety controls is pleased to announce that it has achieved a significant milestone having surpassed the sale of 2 billion products worldwide.
The Company currently manufactures over 430 million specialised components, used within its products, each year from a highly efficient production site in the Isle of Man. It is the world's largest supplier of kettle safety controls, with an estimated 40% global market share - in the UK alone, some 7 out of 10 kettles are estimated to be fitted with Strix safety controls.
It is estimated that Strix products are used in existing kettles more than 1 billion times a day, protecting consumers at the same time. The Company has a strong emphasis on production automation and product evolution, such as the recent launch of the new U9 series of control. The company continues to invest in its R&D activities on the Isle of Man, recently opening an extension to its Product testing laboratory, which is certified by Intertek an Industry Leading Approval Body.
Mark Bartlett, Chief Executive Officer, said:
"We are delighted to announce that Strix has now sold over 2 billion products across the globe. As a highly innovative Company we continue to develop new products which make a difference to people's lives by helping to protect them. We look forward to celebrating the event today in the Isle of Man."
For further enquiries, please contact:
Strix Group Plc Mark Bartlett (CEO) Raudres Wong (CFO)
| 01624 829 829 |
Zeus Capital Limited (Nominated Advisor) Nick Cowles / Jamie Peel / Jordan Warburton (Corporate Finance) Dominic King (Corporate Broking)
| 020 3829 5000 |
IFC Advisory Limited (Financial PR & IR) Graham Herring / Tim Metcalfe / Heather Armstrong / Miles Nolan | 020 3053 8671 |
About Strix Group plc
Isle of Man based Strix, is a global leader in the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration.
Strix's core product range comprises a variety of safety controls for small domestic appliances, primarily kettles. Kettle safety controls require precision engineering and intricate knowledge of material properties in order to repeatedly function correctly. Strix has built up market leading capability and know-how in this field since being founded in 1982.