Coral Products PLC Product Development Partnership
October 04 2018 - 2:00AM
RNS Non-Regulatory
TIDMCRU
Coral Products PLC
04 October 2018
CORAL PRODUCTS PLC
("Coral" or the "Company")
Coral Products PLC and Rotite Technologies enter into a product
development partnership
The Board of Coral is pleased to announce that Coral Products
PLC has recently entered into a development agreement through which
it has retained Rotite Technologies Limited ("Rotite"). Coral, a
"plastics company with a conscience" is seeking to accelerate
innovation within its growing range of products.
Rotite, is an industrial technology business with patents within
advanced fastening solutions. The objective of the agreement is for
Rotite to bring its innovation and industrial design skills to
facilitate the development of new Coral products over the
foreseeable future.
Rotite has itself developed a range of patented products within
the aerospace, automotive, robotics and industrial sectors.
Separately, as previously announced on 1 August 2018, Coral
Products PLC subsidiary Coral Products (Mouldings) has recently
invested in an in-house plastic recycling unit for its Haydock
facility which is expected to be installed in December and be
operational in January 2019.
As a Group, Coral is continuously looking at ways to improve its
products and processes and reduce waste.
Mick Wood, CEO of Coral said:
"Coral is continually looking at new innovation and we are
pleased to be working with Rotite to develop new and exciting
products that will continue to differentiate us in a very
competitive market."
Matthew Harte, Managing Director of Rotite said:
"It is very exciting for us to bring our new technologies and
product design to Coral and help them accelerate the development of
their products. We see a great number of opportunities across the
Coral Group which could lead to significant product
innovation."
Enquiries:
Coral Products plc
Joe Grimmond, Non-executive Tel: 07703 518 148
Chairman
Tel: 01942 590272
Mick Wood, Chief Executive
Officer
Daniel Stewart & Company plc Tel: 020 7776 6550
Broker
David Lawman
Capital Markets Consultants Tel: 07515 587 184
Limited
PR
Richard Pearson
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END
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