HaloSource Inc Perfect Water Manufacturing Renews Excl Agreement (0380A)
December 21 2017 - 2:08AM
UK Regulatory
TIDMHAL TIDMHALO
RNS Number : 0380A
HaloSource Inc
21 December 2017
HaloSource, Inc.
("HaloSource" or the "Company")
Perfect Water Manufacturing Renews Exclusivity Agreement with
HaloSource
HaloSource, Inc. ("HaloSource" or "the Company") (HAL.LN,
HALO.LN) the clean water technology company, today announces that
it has entered into a new 3-year agreement with Perfect Water
Manufacturing Co. Ltd ("Perfect") that will continue to provide
Perfect with exclusive access to HaloSource's patented HaloPure(R)
Disinfection technology for pressurized devices in the
direct-selling channel in China.
Perfect was the second enterprise approved by the Chinese
government to market directly to consumers, through more than 7,000
outlets in China. Since the partnership between HaloSource and
Perfect was first announced in April 2012, both companies have
worked together to develop and sell the JWL brand water purifier, a
multi-stage pressurized water purification device, selling more
than 700,000 devices and over 1,000,000 cartridges in the first
four years since launching in 2013.
In order to maintain exclusivity to HaloSource's best-in-class
HaloPure(R) disinfection technology, for pressurized devices in the
direct-selling channel only, the new agreement with Perfect
requires minimum volume commitments of 800,000 cartridges (150,000,
350,000, and 300,000 cartridges during the three years,
respectively). Additionally, the companies have committed to work
more closely together on marketing and education efforts for the
JWL device and cartridge replacements through Perfect's sales
rallies, along with collaboration on future devices containing
HaloPure(R) technology.
James Thompson, Chief Executive Officer of HaloSource
commented:
"We are delighted to announce the extension of our partnership
with Perfect, a global leader in consumer product sales in China.
We have worked with Perfect over the past five years to launch
their JWL, a class-leading water purifier with a current installed
base of over 700,000 units each needing annual replacements.
Together our two companies have focused on cartridge replacement
awareness and designing the next generation JWL. We believe we have
made significant progress on both fronts recently.
Having a partner of Perfect's calibre is a reflection of the
high quality of the technologies we have to offer to our partner
companies. Whether it be disinfection media or heavy metal removal,
HaloSource has one-of-a-kind offerings with the highest of
regulatory approvals."
Kan Kian Cheong, General Manager of Perfect Water Manufacturing
Co commented:
"We have worked with the HaloSource team for the past five years
to power our JWL line of water purifiers. It is critical that our
customers know that Perfect products are the best-in-class, powered
by world-class performance, and we at Perfect view HaloSource, as
our key water innovation partner."
Market Abuse Regulation
The information communicated in this Announcement is inside
information for the purposes of Article 7 of Market Abuse
Regulation 596/2014 ("MAR"). For the purposes of MAR and Article 2
of Commission Implementing Regulation (EU) 2016/1055, this
announcement is being made on behalf of the Company by Craig
Crowell, Chief Financial Officer.
Enquiries:
HaloSource, Inc.
James Thompson, Chief Executive
Officer +1 425 419 2258
Craig Crowell, Chief Financial
Officer +1 425 419 2248
Cantor Fitzgerald Europe
(NOMAD and Broker)
Andrew Craig, Richard Salmond +44 207 894 7000
About HaloSource
HaloSource, Inc. innovates and integrates technologies to
deliver clean drinking water solutions to partners with trusted
brands around the world. The Company works with scientists and
industry experts across the globe in search of new ways to improve
drinking water quality and has been awarded more than 30 patents
for its ground-breaking chemistries, which provide safe drinking
water for more than 10 million consumers globally. The Company's
class-leading HaloPure(R) Drinking Water technology has the highest
global certifications, including registration with the US EPA.
Founded in Seattle, Washington, HaloSource has grown to become
an influential leader in drinking water purification. HaloSource is
headquartered in the US with operations in China and in India.
Learn more about the Company's research and development and future
cutting edge technologies by visiting www.halosource.com.
The HaloPure(R) and astrea(R) brands are registered trademarks
of HaloSource, Inc. All other trademarks, brand names or product
names belong to their respective holders.
About Perfect
Perfect was the second enterprise approved by the Chinese
government to market directly to consumers. With more than 10,000
outlets and over 1 million sales reps in China with annual sales
revenue of more than 3 billion US, they were the second largest
direct selling company in China in 2016.
This document contains certain forward-looking statements
relating to the Company. The Company considers any statements that
are not historical facts as "forward-looking statements". They
relate to events and trends that are subject to risk and
uncertainty that may cause actual results and the financial
performance of the Company to differ materially from those
contained in any forward-looking statement. These statements are
made by management in good faith based on information available to
them and such statements should be treated with caution due to the
inherent uncertainties, including both economic and business risk
factors, underlying any such forward-looking information.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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