02:00 Wed 14 Oct 2020
Directa Plus PLC - Setcar Update
Directa Plus plc
("Directa Plus" or the "Company")
Setcar update
Directa Plus (AIM: DCTA), a leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets, is pleased to provide an update on the integration and current trading of Setcar SA ("Setcar"), the Company's 51%-owned environmental remediation business acquired in
In the 10 months following the acquisition of Setcar, the business is delivering significantly improved results compared to previous years, despite the headwinds caused by the Covid-19 pandemic.
Highlights
· Sales for the period
· 132 new contracts have been signed since
· Since the start of 2020, Setcar has participated in 77 tenders for new business, of which 32 were awarded to Setcar, with a further 9 still under evaluation by the potential customers
· Contracted order book is expected to generate revenue of
· Post-acquisition integration continues to progress well and the Company continues to invest to reshape the Setcar business to ensure better growth opportunities.
This success is a reflection of the growing strength of Directa Plus in the Environmental vertical.
The outstanding work of Setcar's team, led by our COO,
The foundations for further growth in the coming few years are clearly laid, and we look forward to growing with Setcar."
For further information please visit http://www.directa-plus.com/ or contact:
Directa Plus plc |
+39 02 36714458 |
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Cenkos Securities plc (Nominated Adviser and Joint Broker) |
+44 131 220 6939 |
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N+1 Singer (Joint Broker) |
+44 20 7496 3069 |
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Tavistock (Financial PR and IR) |
+44 20 7920 3150 |
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About Directa Plus
Our focus is principally on the two sectors in which we have strong commercial advantage through developed and launched products and a technological lead: environmental (based on our Grafysorber® product) and textiles (based on our G+ products). In addition, we will continue to pursue opportunities in elastomers and composites (including tyres and asphalt), also using our G+ products. All our products are hypoallergenic, non-toxic and sustainably produced.
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