Time Finance Regulatory News (TIME)

5 May 2006 07:00

Timestrip PLC05 May 2006 Timestrip plc "Timestrip" Nestle adopts technology Timestrip plc is pleased to announce an update on the full-scale commercialtrials which commenced with Nestle Foodservices UK at the end of last year. Nestle has confirmed that it will now establish the 3-day Timestrip(R) smartlabel as standard packaging on the product range that was chosen for the initialtrials - the internationally renowned Maggi(R) brand of "Ready to Use" sauces. Although revenues are conservative in the first instance, this is a significantdevelopment for the Timestrip Group as it demonstrates the relevance of thetechnology as a customer focused packaging innovation. At the same time, Timestrip is pleased to announce that it will embark uponanother joint product development initiative with Nestle FoodServices UK, ofwhich further details will be announced in due course. Paul Freedman, Joint CEO of Timestrip plc, commented: "We have an excellent working relationship with the Nestle team and aredelighted that the technology has been so well received. Timestrip has madesignificant progress since float and I have no doubt our smart label technologyis set to become a key component in next generation packaging across many marketsegments". Andrew Bailey, Food Commercial Controller, Nestle Foodservices UK, commented: "Nestle continues to lead the way in innovative product development and ourpartnership with Timestrip at a time of increased food hygiene regulationdemonstrates our focus on providing our customers high quality products with ameaningful point of differentiation." Enquiries: Paul Freedman/Reuben Isbitsky, Joint CEOs, Timestrip plc 01462 440 700Shane Dolan, Biddicks 020 7448 1000Fergus Marcroft, Evolution Securities 020 7071 4300 Notes to editors Nestle FoodServices is a division of Nestle, the world's largest food andbeverage company. It supplies well-known brands including NESCAFE, CHEF, Maggi,Herta, Nestle Bakery and Aero Bubbly Hot Chocolate to the foodservice industry.The company's portfolio also encompasses vending solutions such as Refuel:PODand Nescafe Accolade, in addition to the Nescafe Coffee Company beverage systemsand ingredients. Timestrip plc has developed an inexpensive and versatile technology foraccurately measuring lapsed time. Timestrip's smart labels contain a liquidwhich migrates across the label, enabling users of perishable food and otherproducts to monitor for how long an item has been open or in use. The technologycan be implemented as an external label or can be fully integrated into productsand product packaging. The Timestrip technology is relevant to a wide range of food and non-foodproducts which, once opened, should be used or replaced within a recommendedtime. Expiry dates feature prominently in the following mass markets, whichTimestrip actively targets: •Food Retailing •Catering and Food Services •Consumables •Pharmaceuticals •Medical Devices Timestrip's main route to market is through supply and license agreements withmanufacturers and packaging companies who will integrate Timestrip labels intotheir products or packaging. This information is provided by RNS The company news service from the London Stock Exchange