Zenova Group PLC (AIM: ZED), a provider of innovative fire safety and heat management technology and products, is pleased to announce that it has entered a sub-distribution agreement with the Ethmaar Investment Company ("Ethmaar") to distribute its thermal insulation and fire protection products throughout Saudi Arabia.
The sub-distribution agreement will provide Saudi customers with direct access to Zenova's thermal insulation and fire protection products and builds upon Ethmaar's strong relationships with some of the biggest organisations in Saudi Arabia.
This agreement provides for Ethmaar to place the first order of one container valued at £116,000 within 3 months of entering into this agreement and subsequently order a minimum of £1.2m worth of Zenova products within 12 months of the date of the agreement.
Commenting on the news, Tony Crawley, Chief Executive of Zenova Group PLC said: "This agreement with Ethmaar represents a very important first step for Zenova into Saudi Arabia and we look forward to working with Ethmaar as we gain a foothold for our products in this jurisdiction where our products are much needed to tackle the issues that are increasing in their significance as the local authorities focus more on temperature management, energy conservation, safety and prevention of fire"
Tariq M Barri, Managing Director of Ethmaar said: "We are very pleased to be Zenova's partner of choice in Saudi Arabia. Critically, by adding Zenova to our portfolio we can bring innovative and high performing building material with green credentials to the attention of organizations (government and private), and building owners to compliment design strategies that improve safety, performance and reduce our environmental impact. Zenova IP, Zenova FP and Zenova IR improve the thermal performance and fire protection on future builds as well as providing solutions that do not exist in many scenarios. Adding Zenova to our product offerings allows Ethmaar to offer quick, affordable, and ecological insulation and fire protection solutions."
For further information:
Zenova Group PLC
Tony Crawley, Chief Executive Officer
Don Nicolson, Non-Executive Chairman
Via Orana Corporate LLP:
Anthony Eastman
Tel: +44 20 3475 6834
SPARK Advisory Partners Limited (Nominated Adviser)
Matt Davis / Adam Dawes
Tel: +44 20 3368 3550
SI Capital Limited (Broker)
Nick Emerson
Tel: +44 1483 413 500
Redbine Ltd (Media Enquiries)
Paul Dulieu
Tel: +44 203 093 9530
+44 7554 521 421
Email: paul@redbine.co.uk
About Ethmaar Investment Company:
Tariq M. Barri - Managing Director
Tel: +966-5652500900
Salman Gazzawi - EVP
Tel: +966-504940919
About Zenova Group PLC:
The Group, through Zenova Ltd, is the holder of intellectual property that underpins a suite of fire safety and temperature management products and technology. The product range is applicable to industrial, commercial, and residential markets. The Group’s products include fire retardant paints, insulating paints and render, fire extinguishing fluid and applications. Through innovative development, and a refined formulation and development process, Zenova provides industry leading solutions across a range of fire protection and temperature management problems, comprising:
Zenova FP
A water-based fire-resistant paint that prevents ignition and spread of fire. It can be used in commercial, industrial and domestic applications on a variety of materials, from wood to metal.
Zenova FX
Patent pending fire extinguisher filled with proprietary Zenova Fluid (Zenova FXB) that extinguishes all types of fires, reduces chances of re-ignition, works in cold (-15 ̊C) conditions, is non-toxic and does not produce harmful by-products.
Zenova IP
Thermal insulating paint that creates a thermal barrier, provides thermal reflection of sunrays & infrared radiation, anti-condensation and anti-mould properties. It can be applied to virtually any exterior or interior material, regardless of the surface.
Zenova IR
Thermal insulating render to enhance the effectiveness of insulation by creating a thermo shield. It fills all cavities and gaps regardless of geometric shape and creates a vacuum – the most effective insulator.
Zenova CS
Patent pending next generation ceiling sprinkler filled with proprietary Zenova Fluid (Zenova FXB) that removes the need to install large fluid tanks, piping, complicated equipment and software. This sprinkler could be installed in the kitchen.
The Group has achieved this without compromising the sustainability of natural and economical resources, including personal health and safety, with ecologically sound products.
