IN BRIEF: HeiQ agrees EUR2 million partnership with Wollner

HeiQ PLC - London-based textiles technology firm - Subsidiary HeiQ Chrisal signs a partnership ...

Alliance News 9 June, 2021 | 1:12PM
Email Form Facebook Twitter LinkedIn RSS

HeiQ PLC - London-based textiles technology firm - Subsidiary HeiQ Chrisal signs a partnership with Wollner GmbH, a chemicals and speciality additives supplier for industrial applications. HeiQ Chrisal is HeiQ's biotechnology arm focused on probiotics and synbiotics.

The deal will deliver revenue of at least EUR2 million to HeiQ Chrisal over a five-year period, it says. Wollner will offer its customers an "environmentally friendly, non-biocidal microbial management and cleaning solution" developed by HeiQ Chrisal. Ludwigshafen, Germany-based Wollner will have exclusive rights to the water treatment solution in Germany, Austria, Switzerland, Finland and Scandinavia.

HeiQ Co-founder & Chief Executive Carlo Centonze says: "This agreement is of strategic importance for HeiQ Chrisal, providing this innovative business access to the previously unentered arena of industrial water circuits.

"We believe that this is just the start of similar contracts which have the potential to deliver solid growth to HeiQ as we strengthen our presence in the USD50 billion probiotics market."

Current stock price: 184.40 pence, up 1.6% on Wednesday

Year-to-date change: up 2%

By Will Paige; willpaige@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
HeiQ PLC Ordinary Shares 3.88 GBX 0.65 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures