Chairman's Statement and Operational Review
Alan Reade, Executive Chairman
TYRATECH, INC. • ANNUAL REPORT 2011 • PAGE 8
Welcome to TyraTech's 2011 Annual Report. I am pleased to report the many product
development advances which were made during 2011 and have continued into 2012, as well
as TyraTech's improved financial performance during 2011. This past year validated our ability to
deliver high value products to the market, as evidenced by our product sales, which increased
by over 100% from 2010 levels.
Product Development Advances
We have made significant advances in our product development pipeline throughout 2011 and the first half of 2012,
with the strategic goal of diversifying our product offering and customer base. This included advancing product
development programmes in each of our three key areas of focus - Insect Control, Human Health and Animal
Health. We believe our products have the ability to change the way people view the use of pesticides in their
home. In the personal care sector we identified that existing solutions are suboptimal as they no longer adequately
address the needs of the consumer. We believe our head lice product, VaMousse!™ is one such product that can
meet the new demands of consumers in terms of both effectiveness and peace of mind.
Insect Control
In order to further expand our insect control offering, we have two development programmes utilizing our Nature's
Technology™ platform. The first is a floor and surface repellent technology for consumer, industrial, and institutional
markets. The Company has made significant progress in this area and believes that it has the ability to deliver
repellent floor and surface products which will have the ability to repel insects for up to 24 hours.
The second is through TyraChem, our joint venture with Chemplast International. This venture is focused on
developing innovative insect control and repellency platforms that integrate TyraTech's Nature's Technology® into
Chemplast's plastics technologies. We have met a significant milestone in this venture by successfully incorporating
TyraTech's insect control technology into plastic films. We and Chemplast are encouraged with this and other
recent successes in the development of this technology. Initial study data on the plastic films the joint venture
manufactured is showing strong repellency against flies and other insects. These innovative plastics provide a range
of potential applications in the agriculture, commercial, institutional and consumer markets.
Based upon market research we have performed, we believe that our range of products can address a market
with an opportunity in excess of US$1 billion.
