MAD
22/09/2014 10:32
FORECAST
REL: 1032 HRS Energy Mad Limited
FORECAST: MAD: $1.3 million annual cost reduction from its new LED Model
Media Release 22 September 2014
$1.3 million annual cost reduction from its new LED Model
Energy Mad announced on 2 September 2014 that it was proposing scaling back
its organisational structure, subject to consultation with its employees, to
focus on its new Direct to Consumer Ecobulb LED sales model utilising
outsourced sales forces (rather than using its own independently contracted
sales staff/contractors).
The model involves external sales forces demonstrating Energy Mad's LED
Ecobulb light bulbs in consumer homes and calculating the electricity savings
for that consumer from replacing their old light bulbs with Ecobulb LEDs.
"The consultation with our employees is now complete and Energy Mad expects
to achieve an estimated annual cost reduction of $1.3 million from a leaner
organisational structure."
Chief Executive Officer Paul Ravlich said.
"We have made excellent progress with the outsourced sales force in New
Zealand, and are scaling up activities in this area".
Energy Mad recently commenced a pilot project with an outsourced field force
in the United State and is preparing for trials later in 2014 with outsourced
sales forces in Australia and the United Kingdom.
"The current low uptake of LEDs in New Zealand, Australia, the United States
and the United Kingdom, combined with little competition in the direct to
consumer space, creates a market opportunity that Energy Mad is aiming to
take advantage of," Mr Ravlich said.
ENDS
For More Information Contact:
Chris Mardon, Managing Director
(021) 041 2981
End CA:00255500 For:MAD Type:FORECAST Time:2014-09-22 10:32:48
