RCS - Strix Group PLC - 3 Billion Kettle Controls Manufactured

StrixAnnouncement

15/10/2024 07:00

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RNS Number : 1043I  Strix Group PLC  15 October 2024

15 October 2024

Strix Group Plc

("Strix", the "Group" or the "Company")

3 Billion Kettle Controls Manufactured

Strix Group Plc (AIM: KETL), the global leader in the design, manufacture and
supply of kettle safety controls and other complementary water temperature
management components, is delighted to announce that it has achieved a major
milestone, having surpassed the manufacture of 3 billion products worldwide.

 

Strix estimates that its controls are used approximately 1.2 billion times per
day, in more than 100 countries, by over 10% of the world's population. The
Company has successfully cultivated a leading market value share of the global
kettle control industry and occupies the number one position in the
manufacturing of controls. A truly international business, Strix has c. 1000
employees and partners all over the world.

 

Strix is pleased to announce this milestone in conjunction with its attendance
at the Canton Fair, the oldest, largest, and most representative trade fair in
China. Strix's team of 25 attending the fair includes members from various
functions, consisting of engineering and industrial design, technical support,
customer relations, sales and applications, all supported by senior
management.

 

The team will be meeting with many of Strix's key customers and partners to
discuss new projects, showcase new appliances and importantly, the fair
provides significant market intelligence, allowing Strix to gain insight into
consumer demand trends in the small domestic appliance market.

 

Mark Bartlett, Chief Executive Officer of Strix Group Plc, commented: "We are
very pleased to have reached another significant milestone for the Company,
achieving 3 billion products manufactured is a clear demonstration of the
ongoing demand within our core business. We continue to invest in our kettle
control division, bringing to market innovative products for our customers
around the world.

 

"Attending the Canton Fair is a major event in our annual calendar, providing
us with the opportunity to meet with existing and new customers, as well as
gaining important market insight as we move further into our peak season."
 

 

For further enquiries, please contact:

 

 Strix Group Plc                                      +44 (00 1624 829829
 Mark Barlett, CEO
 Clare Foster, CFO

 Zeus (Nominated Advisor and Joint Broker)            +44 (0) 20 3829 5000
 Nick Cowles / Jordan Warburton (Investment Banking)
 Dominic King (Corporate Broking)

 Stifel Nicolaus Europe Limited (Joint Broker)        +44 (0) 20 7710 7600
 Matthew Blawat / Francis North

 Gracechurch Group (Financial PR and IR)              +44 (0) 20 4582 3500
 Heather Armstrong / Claire Norbury / Harry Chathli

 

Information on Strix

Isle of Man based Strix, is a global leader in the design, manufacture and
supply of kettle safety controls and other components and devices involving
water heating and temperature control, steam management and water filtration.

Strix's core product range comprises a variety of safety controls for small
domestic appliances, primarily kettles. Kettle safety controls require
precision engineering and intricate knowledge of material properties in order
to repeatedly function correctly. Strix has built up market leading capability
and know-how in this field since being founded in 1982.

Strix is admitted to trading on the AIM Market of the London Stock Exchange
(AIM: KETL).

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