RCS - Tristel PLC - Transition of German branch to subsidiary status <Origin Href="QuoteRef">TSTL.L</Origin>

TristelAnnouncement

05/01/2016 07:01

RNS Number : 7809K
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 50,000 in 2010-11, the branch recorded sales of 1.4 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
NRAEAKFLEANKEFF