- Release Date: 18/02/13 10:30
- Summary: OFFICE: BLT: BLIS Moving Forward
- Price Sensitive: No
- Download Document 2.5KB
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
- Forums
- NZX - By Stock
- BLT
- Ann: OFFICE: BLT: BLIS Moving Forward
Ann: OFFICE: BLT: BLIS Moving Forward
Featured News
Add BLT (NZSX) to my watchlist