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:
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
|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:
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.
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.
The Group has achieved this without compromising the sustainability of natural and economical resources, including personal health and safety, with ecologically sound products.