17 Oct 2016 07:00
17 October 2016
Modern Water plc
("Modern Water" or "the Group")
Modern Water receives order commitments for monitoring equipment in China
Modern Water plc (AIM:MWG), the owner of leading technologies for water, wastewater treatment and the monitoring of water quality, announces that its Monitoring Division has received order commitments from customers in the Asia Pacific region, in excess of £550,000, for its range of online toxicity and trace metal monitoring equipment. Delivery of the orders will be completed during the 2016 calendar year.
The Monitoring Division's sales and order commitments total is now in excess of £950,000 for the Asia Pacific region alone. Total Monitoring Division sales were £3.2m in the Full Year 2015, with Monitoring Division sales to the Asia Pacific region of £936,000.
Doug Workman, President of Modern Water's Monitoring Division said: "We are pleased to have received these orders for our online toxicity and trace metal monitoring products, since we believe it represents a growing demand for our innovative equipment in China. We believe these orders highlight the ongoing demand for our products and the progress validates our commitment to develop and pursue this market."
Simon Humphrey, CEO of Modern Water, said: "In our recent half-year results statement, we reported reduced sales for the Monitoring Division due to a weakness in the Chinese market, also stating that we expected this shortfall to reverse in the second half of the year. We are happy to report that due to the hard work and dedication of Doug and his team, this expectation has already been realised. We look forward to further growing our business in the Asia Pacific region and also in wider global markets."
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For further information:
Modern Water plc | +44 1483 696 000 |
Simon Humphrey, Chief Executive
| |
Numis Securities Limited | +44 2072 601 000 |
Mark Lander (Corporate Broking) | |
Richard Thomas (Nominated Adviser)
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Tavistock | +44 (0) 207 920 3150 |
Mike Bartlett | |
Andrew Dunn |
Notes to Editors:
About Modern Water
Modern Water owns, installs and operates world-leading membrane technology and develops and supplies advanced systems for water monitoring. Its shares trade on the Alternative Investment Market of the London Stock Exchange.
Modern Water has developed and commercialised world-leading patented Forward Osmosis desalination technology which can be used in a variety of industries. Its benefits include lower energy consumption, improved water quality and lower environmental impact. With a sales presence in almost 60 countries, the Group's Monitoring Division includes a leading real-time continuous toxicity monitor and trace metal analysers for monitoring the quality of drinking water.
www.modernwater.com