Last checked at 6 Sep 2019 07:00
6 September 2019
Strix Group Plc
("Strix" or the "Group")
Strix technology in new Philips branded product
Strix Group Plc (AIM: KETL), the global leader in the design, manufacture and supply of kettle safety controls and other complementary water temperature management components, is pleased to announce a product launch with AquaShield Health Technology Company Ltd, the global exclusive Philips brand licensee for water purifiers and dispensers. The collaboration will launch a new co-branded water bottle with in-built filter, supported by Strix's water filtration expertise.
The Philips branded water bottle and filters powered by Astrea were introduced on Thursday 5 September 2019 at IFA Berlin, the world's largest electronics and consumer show, where it was unveiled to trade delegates and press. This launch, as a co-branded product has allowed Strix to achieve a large-scale unveiling and promotion whilst leveraging existing channels without significant investment. The target launch of the water bottle for consumers is Q1 2020.
The Philips Brand is launching the co-branded water bottles and filters into their channels globally, excluding North America where the Astrea brand and products are already available to consumers.
Mark Bartlett, Chief Executive of Strix plc, commented: "We are delighted to have secured this international collaboration with the Philips brand and we look forward to continuing to work with the AquaShield team on our new project. This partnership demonstrates the quality of the Astrea technology and we continue to explore further opportunities for the Halosource assets we acquired in March 2019.
"With the support of Philips brand, this move into a new segment opens up important opportunities for Strix."
Enquiries:
Strix Group Plc | +44 (0) 1624 829 829 |
Mark Bartlett, CEO | |
Raudres Wong, CFO | |
Zeus Capital Limited (Nominated Advisor and Joint Broker) | +44 (0) 20 3829 5000 |
Nick Cowles / Jamie Peel / Jordan Warburton (Corporate Finance) | |
Canaccord Genuity Limited (Joint Broker) | +44 (0) 20 7523 8000 |
Bobbie Hilliam | |
IFC Advisory Limited (Financial PR and IR) | +44 (0) 20 3934 6630 |
Graham Herring / Tim Metcalfe / Heather Armstrong |
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.
Strix is listed on the Alternative Investment Market of the London Stock Exchange (AIM: KETL).