Strix Group PLC 2 Billion Products sold
21 November 2017 - 8:02AM
RNS Non-Regulatory
TIDMKETL
Strix Group PLC
21 November 2017
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) 01624 829
Raudres Wong (CFO) 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.
This information is provided by RNS
The company news service from the London Stock Exchange
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