signs major russian distributor

Finally, something to talk about!

(it's been a very quiet week ... the 1st I can remember with no posts)

I first heard about this deal approximately three months ago, but was sworn to secrecy. Obviously since that time the terms were agreed to, documents were completed and finally signed (plus their main focus at the time was on getting the new factory producing required quantaties of SUS before further reving things up).

I don't think this was the rumoured 'big announcement' that has been touted recently, but it's a good one nonetheless.

Here it is:

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ASX Announcement

Polartechnics Limited (ASX Code: PLT)

9th May 2008

. Polartechnics signs exclusive distribution agreement for TruScreen in Russia
. Russian market access key element in Eastern European business strategy
. Over 54 million target women in Russia – low usage of pap test means great TruScreen potential

The Board of Polartechnics (PLT) is pleased to announce that PLT has signed a distribution agreement with a leading Russian medical distributor, Luminary Ltd. Luminary is a high profile medical distribution company within the region and distributes medical products for companies such as Digene, Siemens (Buhrlmann), Hitachi and Hal Allergy.
This agreement includes the Ukraine, Uzbekistan and Kazakhstan as well as Russia for the sale of the TruScreen product. With low levels of pap testing in the region there is great potential for TruScreen takeup.

Product registration for TruScreen in Russia has commenced and is expected to be complete within 6 months. This will consolidate an Eastern European regional market of over 150 million screening aged women who are currently serviced with an underperforming Pap Test market estimated at $400million per annum. TruScreen sales in Russia are to commence in early 2009.

The commencement of operations in Eastern Europe supports the proposed increase in TruScreen production, which is currently underway in Australia and China.

Luminary President, Dr. Elijah Olkov, said "We are pleased to be involved with Polartechnics and believe that TruScreen will have a significant impact on the cervical cancer screening market in Russia. This is primarily because of the lack of pathology services throughout Russia, which limits the availability of the conventional Pap test to only 30% of our potential market."

PLT Chairman Mr Robert Hunter said "The Russian market completes our Eastern European market strategy, opening the door for TruScreen to over 54 million women in Russia alone. The Russian cervical cancer market is under-developed with over 42% of the female population not aware of what a Pap test is. Coupled with the fact that only 30% of women have ever had a Pap test and only 20% being tested
more than once, the potential for TruScreen is enormous."

For more information contact:

Mr Robert Hunter
Chairman
Polartechnics Limited
P: +61 2 8586 5333
E: [email protected]

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Nice way to end the week. Have a great weekend all.

Cheers all.

p.s. GO THE KANGAROOS! (re. tonight's Rugby League vs. Kiwis)