Time Finance Regulatory News (TIME)

16 Nov 2007 07:01

Timestrip PLC16 November 2007 TIME.L Timestrip plc (the "Company") Whirlpool adopts Timestrip Technology Timestrip plc is pleased to report excellent progress with its strategicpartnership with leading domestic appliance manufacturer Whirlpool Europe, whichwas announced in February. Whirlpool has now adopted Timestrip's smart labeltechnology as a replacement indicator in two of its domestic appliance filters. The Company has successfully shipped orders for a six-month indicator that willbe supplied with the Whirlpool Microban Antibacterial and Antiodor Filter aswell as a six-month indicator for a new frost absorber used in domestic chestfreezers. In accordance with the February agreement, both companies are actively exploringopportunities to introduce the technology to a wider range of filter productsand other devices sold by Whirlpool both in Europe and worldwide. Paul Freedman, Joint CEO Timestrip Plc said: "Timestrip is clearly establishingitself as the new standard in replacement indicators for the global appliancesector. Timestrip smart labels help Whirlpool customers to change the consumableitem at the right time, which maximises the efficiency of their device andstrengthens their loyalty to the Whirlpool brand." Timestrip smart labels are now supplied as replacement indicators to WhirlpoolEurope, and to Hamilton Beach/Febreze(R), Hygolet, and Dryandstore(R) in the US.In August, the Company announced a significant contract win, also in theappliance sector, to supply the unique Timestrip technology to one of NorthAmerica's leading consumer product companies. The deal, estimated to be worth aminimum of US$3million in revenues to the Company over the first three years,involves the integration of the Timestrip into a market leading product that iscurrently used in millions of homes across the world. Enquiries: Paul Freedman/Reuben Isbitsky, Joint CEOs, Timestrip plc 01462 440 700Shane Dolan, Biddicks 020 7448 1000Fergus Marcroft, Evolution Securities 020 7071 4300 Whirlpool EuropeWith 14,000 employees, a sales presence in over 30 European countries and manufacturing sites in seven countries, Whirlpool Europe is a wholly owned subsidiary of Whirlpool Corporation, the world's leading manufacturer and marketer of major home appliances. Headquartered in Benton Harbor, Michigan, the corporation manufactures in 13 countries and markets products under 5 major brand names in more than 170 countries worldwide. It has an annual turnover of more than 14.3 billion dollars, 68,000 employees and almost 50 production and technological research centers globally. Whirlpool's European Operations' Center is located in Comerio (VA), Italy. For further information on the company, please visit the Web Site www.whirlpoolcorp.com. This information is provided by RNS The company news service from the London Stock Exchange