REG - Directa Plus PLC - Award of Waste Management Contract

Directa PlusAnnouncement

13/07/2020 07:00

RNS Number : 7345S
  
Directa Plus PLC
  
13 July 2020
  
 

13 July 2020
 
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE EU MARKET ABUSE REGULATION (596/2014). UPON THE PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
 
Directa Plus plc
("Directa Plus" or the "Company")
 
Total Waste Management Contract with Cummins Romania
 
Directa Plus (AIM: DCTA), a leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets, announces that the Company's subsidiary Setcar S.A. ("Setcar") has signed a contract to supply total waste management services to Cummins Generator Technologies Romania S.A. ("Cummins Romania"), part of the Fortune 500 Cummins, Inc.
 
This is the third major contract win for Setcar since the completion of the acquisition by Directa Plus of 51 per cent of the company in November 2019. The value of the contract to Setcar is estimated to be approximately US$3 million over a period of three years, commencing 1 October 2020.
 
Cummins Romania offers a wide range of new and refurbished Cummins engines and power generation equipment, spare parts and qualified service for a wide range of applications across a broad spread of industries.
 
Setcar will provide Cummins Romania with a total waste management service including collection and management of the different types of waste generated during production - from oil and oil contaminated water to out of spec equipment, packaging, paints and metallic waste - while ensuring traceability throughout the entire process.  Directs Plus's Grafysorber® technology will be used for the treatment of the oil and solvents contaminated waste and water, reducing the environmental impact compared to traditional waste disposal. 
 
Commenting, Giulio Cesareo, Founder and CEO of Directa Plus, said: "This third major contract win since acquiring Setcar as a subsidiary illustrates the potential for growth in our key environmental vertical.  We hope to demonstrate further market penetration in industrial and oil and gas markets as we continue to roll out Setcar's services during the remainder of 2020."
 
This announcement has been approved by Giulio Cesareo, Chief Executive, on behalf of the Company.
 
For further information please visit http://www.directa-plus.com/ or contact:
 



Directa Plus plc


+39 02 36714458




Giulio Cesareo, CEO


 




Marco Ferrari, CFO


 




 


 




Cantor Fitzgerald Europe (Nominated Adviser and Joint Broker)


+44 20 7894 7000




Rick Thompson, Philip Davies, Will Goode(Corporate Finance)


 




 


 




N+1 Singer (Joint Broker)


+44 20 7496 3069




Mark Taylor


 




 


 




Tavistock (Financial PR and IR)


+44 20 7920 3150




Simon Hudson, Edward Lee


 



 
About Setcar
Established in 1994, Setcar S.A. has focused since 2000 on providing a complete range of services to solve environmental issues in a safe and efficient way - from chemical analyses for waste identification to the development of tailored solutions for the waste treatment and by developing new technologies for the remediation of contaminated sites.  Setcar's offering includes the decontamination of industrial plants and sites, soils contaminated with petroleum products, PCBs or other contaminants and petroleum and other hazardous waste in lagoons.  The company offers its services both onshore and offshore.
 
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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