Share
BLT
18/02/2013 08:30
OFFICE
REL: 0830 HRS BLIS Technologies Limited
OFFICE: BLT: BLIS Moving Forward
BLIS MOVING FORWARD
BLIS Technologies Ltd (NZX:BLT) announces the relocation of its head office
and research facilities from the Otago University Centre for Innovation
("CFI") to commercial premises in central Dunedin currently being utilised
for the manufacture and distribution of its "Gourmet" ice cream products.
The move forms part of an increased focus by the company on the manufacture
and distribution of BLIS probiotic finished and part finished products within
the New Zealand, Australia and Asian consumer markets and sales through its
web site www.blis.co.nz.
The initiative follows completion of a review of operations. A sharper focus
on the production and distribution of BLIS probiotic products will mean the
production and sale of ice cream and roulades under the "Gourmet" brand will
cease. The launch by "Gourmet" of the BLIS probiotic ice cream has however
been a successful proof of concept and it is therefore intended to maintain
supply under license.
The relocation and restructure will result in a small number of redundancies
at the ice cream plant. This is regrettable but is necessary. The
production and distribution of ice cream is an increasingly competitive
market. Remaining a small niche producer without the efficiencies of large
scale processing requires ongoing resources that the Company has decided are
better utilised in developing and promoting our BLIS probiotic ingredients
and associated products.
The CFI has served our requirements well but it is configured for research
laboratories. The relocation and associated restructure of operations will
provide efficiencies and cost reductions through better utilisation of the
Company's resources. This will increase the space available to dedicate to
probiotic product processing thereby facilitating the internalisation of some
production functions currently being outsourced.
The Company remains committed to increasing the awareness of and demand for
the valuable and unique attributes of its range of probiotics. The recent
NZFSA approval for BLIS M18TM provides the opportunity for further product
offerings.
The relocation and associated restructuring of the Company will incur
additional costs in the current financial year and as a consequence the
Company has further revised its guidance for the financial year to 31 March
2013 to a deficit of $1.8m.
Anthony Offen
T: 021-463-336
End CA:00233018 For:BLT Type:OFFICE Time:2013-02-18 08:30:08
