Tristel PLC Transition of German branch to subsidiary status
January 05 2016 - 2:00AM
RNS Non-Regulatory
TIDMTSTL
Tristel PLC
05 January 2016
Tristel plc
("Tristel" or "the Company")
Transition of German branch to subsidiary status
Expansion into Central Europe
Tristel plc (AIM: TSTL), the manufacturer of infection
prevention, contamination control and hygiene products, announces
that it is to build upon the success of its German operation by
upgrading its branch to subsidiary status (GmbH).
The branch, established in 2010 and based in Berlin, has made
significant progress in penetrating the German hospital market in
the areas of ear, nose and throat; cardiology; urology and
ultrasound. From a single employee start up with sales of GBP50,000
in 2010-11, the branch recorded sales of GBP1.4 million in
Tristel's last financial year ended 30 June 2015, and now has an
eight strong sales team. The branch sells the Company's wipes and
foams to the same hospital departments that Tristel targets
worldwide and counts 80% of Germany's university hospitals amongst
its customers.
During the past two years the branch has taken responsibility
for developing the Swiss and Austrian markets and has done so
successfully.
Paul Swinney, CEO, comments: "We are very pleased with the
platform that we have built in Germany. The progress that we have
made in Europe's largest hospital market is evident in the fact
that Germany's contribution to Group worldwide sales is now
approaching 10%. However, there is still enormous potential to
exploit if the level of our German sales is to match the United
Kingdom's.
"It is, therefore, an appropriate moment for us to upgrade the
status of the branch and also extend its sphere of responsibility.
Whilst we have some limited activity in Poland we have no
representation or sales in Hungary, Slovakia, Czech Republic,
Slovenia or the Ukraine. The Berlin team will now use their
linguistic and cultural ties, and physical proximity, to develop
the wider Central European market whilst continuing to grow
domestic German sales.
"This latest initiative is another step toward our objective of
establishing Tristel as a leading player in the global infection
control market."
For further information please contact:
Tristel plc Tel: 01638 721 500
Paul Swinney, Chief Executive
Officer
Liz Dixon, Finance Director
Walbrook PR Ltd Tel: 020 7933 8780 or tristel@walbrookpr.com
Paul McManus Mob: 07980 541 893
Lianne Cawthorne Mob: 07584 391 303
finnCap Tel: 020 7600 1658
Geoff Nash/ Giles Rolls (Corporate
Finance)
Stephen Norcross (Corporate
Broking)
This information is provided by RNS
The company news service from the London Stock Exchange
END
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