Aqua Bio Technology enters into New Zealand partnership
January 12 2017 - 4:01AM
Aqua Bio Technology ASA has
entered into an agreement with Moana Skincare of New Zealand for
the distribution and sales of Moana's skincare products in Europe
and the Middle East. The collaboration with
Moana is ABT's second step in implementing the Company's expanded
business model as announced on 11 January 2017.
Moana Skincare has developed a portfolio of 19
skincare products. The majority of the products are based on potent
botanical extracts from plants found in New Zealand's nature and
that have been used in traditional medicine by the country's
indigenous population, the Maori, for centuries. Moana skincare products are
also based on a rare seaweed, found only in the Pacific waters of
New Zealand. All Moana products have documented positive effects on
the skin.
Moana products are currently sold in the Pacific
region as well as in a few markets in Europe. ABT has been awarded
exclusivity for distribution and sales of the products in Europe,
the Middle East and Africa (EMEA).
"We have tested Moana's product on a group of
consumers and their response is overwhelming. The products are
developed for sensitive skin and targets the most demanding
customers and professional users. We see a huge potential for the
Moana product line in the EMEA markets," said Arvid Lindberg, CEO
of Aqua Bio Technology.
The agreement runs for the next eight years and
gives ABT exclusivity for any new Moana products in addition to the
19 products currently covered. Under certain conditions, ABT has
the option of acquiring up to 30 per cent of the Moana shares.
Should the owner of Moana decide to sell all shares, ABT has a
right of first refusal for the entire company.
For further information, please
call Arvid Lindberg, CEO, telephone +47 9824 5410
Aqua Bio
Technology (ABT) has launched several cosmetic ingredients used in
skin care products globally. Skin care is the fastest growing
segment in the cosmetics industry, where ABT's ingredients have
established a foothold. In addition to ingredients from its own
technology, ABT also commercializes novel technologies/ingredients
for partners, for use in skin care products. Aqua Bio Technology is
listed on the Axess market of the Oslo Stock Exchange.
This information is subject
to the disclosure requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.
ABT enters into New Zealand
partnership
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The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Aqua Bio Technology via Globenewswire
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