Amiad Water Systems Ltd Update regarding French certification (7867K)
July 12 2017 - 2:00AM
UK Regulatory
TIDMAFS
RNS Number : 7867K
Amiad Water Systems Ltd
12 July 2017
12 July 2017
Amiad Water Systems Ltd.
("Amiad" or the "Company")
Update regarding French certification
Further to the announcement of 31 May 2017, Amiad (AIM: AFS), a
leading global producer of water treatment and filtration
solutions, provides the following update regarding the previously
disclosed issues with the certification used by its French
Subsidiary company (the "Subsidiary") to confirm compliance of
certain products ("Products"), sold by the Subsidiary, with the
French Attestation de Conformité Sanitaire ("ACS") standard.
Following an initial investigation, the Company has now put in
place new management oversight of its French and European
operations, and has appointed Amiad's VP Operations & COO as
interim President of the Subsidiary. The former President of the
Subsidiary is leaving the Company with immediate effect. In
addition, application for the requisite ACS certification for the
relevant Products has now been submitted. Amiad continues to work
with its customers to minimise the disruption to ongoing projects
and is in the process of suppling information to, and answering
queries from, the relevant authorities, such as the French Ministry
of Health and Solidarity.
The Company expects there to be some exceptional legal and other
costs related to this issue incurred during 2017. However, based on
currently available information, the Company does not anticipate
there to be a material impact on the Company's results for the 2017
financial year. Trading otherwise continues in line with
management's expectations. Further details will be provided in the
Company's interim results, which are due to be announced in
September 2017.
Enquiries
Amiad Water Systems Ltd.
-------------------------------- -----------------
Dori Ivzori, Chief Executive
Officer
Irit Ben-Dov, Chief Financial
Officer +972 4 690 9500
-------------------------------- -----------------
Stifel Nicolaus Europe
Ltd.
-------------------------------- -----------------
Stewart Wallace, Ben
Maddison +44 20 7710 7600
-------------------------------- -----------------
Luther Pendragon Ltd.
-------------------------------- -----------------
Harry Chathli, Claire
Norbury +44 20 7618 9100
-------------------------------- -----------------
About Amiad
Amiad Water Systems (AIM: AFS) is a leading global producer of
automatic, self-cleaning water treatment and filtration products
and systems. Through its engineering skills and ability to
innovate, Amiad provides cost-effective "green" solutions for the
industrial, municipal, irrigation, oil & gas and ballast water
markets. In these segments its patented products are being
integrated into the core of systems for filtration and water
treatment, micro irrigation and membrane protection, wastewater and
potable water treatment, cooling systems and sea water
filtration.
Headquartered in Israel, Amiad provides these solutions through
nine subsidiaries and a comprehensive network of over 170
distributors to customers in more than 80 countries.
For additional information or product details, please visit
www.amiad.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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