TIDMWTL
RNS Number : 7070K
Waterlogic PLC
28 August 2012
28 August 2012
Waterlogic Plc
("Waterlogic", the "Group" or the "Company")
Appointment of Peter Cohen as Executive Director
Waterlogic Plc (AIM: WTL.L), a leading designer, manufacturer
and global distributor of point-of-use ("POU") drinking water
purification and dispensing systems, is pleased to announce the
appointment of Peter Cohen as Executive Director of the Company
with immediate effect. Peter will also be CEO of the Group's
business-to-business ("B2B") operations, responsible for all
Waterlogic B2B operations worldwide.
Peter Cohen was previously CEO of PHS Group Holdings Limited, a
leading European workplace services provider, for 14 years and was
responsible for growing that business from a revenue of GBP40m to
GBP395m for the year ended March 2011 with an operating profit of
GBP104.7m. Previous to that Peter was Chief Executive of Holt Lloyd
Group Ltd, a manufacturer and global distributor of consumer care
products, from 1991 to 1998.
Jeremy Ben David, Waterlogic Group CEO, commented:
"We are delighted to welcome Peter to Waterlogic's senior
management team. I have worked closely with Peter for 12 years as a
supplier to PHS Waterlogic and I am confident that he will bring an
extensive amount of added value to the Group through his wealth of
experience in the B2B sector.
His appointment will also allow me to focus more efforts on
growing Waterlogic's B2C business, develop new routes to market and
accelerate significantly the commercialisation of Waterlogic's
highly innovative Firewall(TM) ultra-violet technology. I look
forward to working closely with Peter and his contribution."
Peter Cohen, Waterlogic Group Executive Director, said:
"I am delighted to be joining Waterlogic at this exciting time
as the Company continues its growth and I look forward to making a
contribution to the business that Jeremy and his team have
built."
Peter James Cohen, age 59, is or has been in the past five years
a director or partner of:
Current Past
MPS Development Ltd PHS Group Holdings Limited
Vale Brothers Ltd Sentinel Performance Solutions
Ltd
Ipswich Town Football Club
There is no further information required to be disclosed for the
purposes of compliance with Schedule 2(g) of the AIM Rules.
Enquiries:
Waterlogic Plc Tel: +44 (0)20 7074 1800
Jeremy Ben-David, Group Chief Executive Email: waterlogic@kreabgavinanderson.com
Officer
Steve Harrison, Group Chief Financial
Officer
Liberum Capital (Nominated Adviser Tel: +44 (0)20 3100 2000
and Broker)
Steve Pearce
Richard Bootle
Kreab Gavin Anderson (PR Adviser) Tel: +44 (0)20 7074 1800
James Benjamin Email: waterlogic@kreabgavinanderson.com
Madeleine Palmstierna
Website: www.waterlogic.com
Notes to editors:
Waterlogic Plc
Waterlogic Plc (AIM: WTL.L) is a leading designer, manufacturer
and distributor of mains attached point-of-use ("POU") drinking
water purification and dispensing systems designed for environments
such as offices, factories, hospitals, hotels, schools, restaurants
and other workplaces. Waterlogic is a Jersey registered company.
Waterlogic's products and services are built on the simple vision
of a three stage approach to purity:
1. Filtration to remove unwanted contaminants, chlorine and other water-borne tastes and odours
2. Waterlogic's Firewall(TM) ultra-violet ("UV") technology is
one of the most effective water purification technologies for POU
water dispenser applications currently on the market and its
dispensers are certified by the Water Quality Association as being
able to guarantee 99.9999% pure water 100% of the time, a fact
which has been confirmed by over 5,000 physical tests in
independent laboratories. The innovative Firewall(TM) technology
incorporates a highly-specialised, compact UV system in the
faucet/tap, which ensures that water passes through the UV system
immediately before it is dispensed into a cup. This point of
differentiation for Firewall(TM) is unique in the POU market.
3. BioCote silver antimicrobial protection. Plastic surfaces
surrounding dispensing areas of Waterlogic units are infused with a
silver additive called BioCote, a natural anti-microbial that
inhibits the growth of microorganisms, giving yet another layer of
hygienic defence.
Founded in 1992, Waterlogic was one of the first companies to
introduce POU systems to Europe and has been a leader in the POU
market in terms of product design and quality, the application of
new technologies and in sales and service. Waterlogic has an
extensive and expanding independent global distribution network in
place, reaching 50 countries around the world.
Waterlogic products are currently being sold in North and South
America, Europe, Asia, Australia and South Africa. Waterlogic's
leading markets are the USA and Western Europe, in particular
Germany, France, Scandinavia and the UK. Of the 1.9 million new POU
and bottled water installations in the business-to-business market
in the USA and Europe between 2005 and 2011, approximately 73%
incorporated POU technology, of which approximately 27% were
Waterlogic products.
The Directors believe that the movement away from bottled water
coolers (BWC) to POU water dispensers is set to continue its
current trend as a result of cost, convenience, health benefits and
environmental considerations.
For the financial year ended 31 December 2011, the Group
generated revenues and adjusted EBITDA (adjusted for share based
incentives expense, capital reorganisation related costs and
acquisition related costs) of USD 84.9 million and USD 13.4
million, respectively, and had approximately 565,000 machines
installed as at 31 December 2011.
As part of Waterlogic's on-going commitment to providing safe
water, the Group has pledged to donate USD 225,000 over the next
three years to WaterAid. WaterAid is a renowned international
non-profit organisation that transforms lives by improving access
to safe water, hygiene and sanitation in the world's poorest
countries. Since 1981 WaterAid has reached 15.9 million people
globally with safe water. Website: www.wateraidamerica.org/
- ENDS -
This information is provided by RNS
The company news service from the London Stock Exchange
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