News
Expanded Terminix Agreement
04 February 2010
STRATEGIC PARTNERSHIP AGREEMENT WITH
TERMINIX IS EXPANDED, EXTENDED THROUGH 2013
~ Companies to increase co-branded product offerings into key U.S. markets~
TyraTech, Inc. (AIM: TYR), a leading eco-technology company which provides novel and effective solutions for the control of internal parasites and external insects for human, animal and environmental health is pleased to announce that it has signed a new and exclusive strategic business relationship agreement (the "Agreement") with Terminix International ("Terminix"), the largest professional pest control company in the world, that expands market focus and extends the strategic partnership through 2013. The Agreement builds on TyraTech's existing relationship with Terminix, formed in November 2008, under which the two companies exploit TyraTech's unique technology platform to develop and commercialise co-branded products for the residential and commercial pest control markets in the US.
Highlights
- The exclusive agreement contemplates continued development, supply, marketing and co-branding of Terminix products, featuring TyraTech Nature's Technology™
- As part of the agreement, key markets were expanded to include commercialisation in the US consumer, professional pest control, commercial, and government markets
- TyraTech will work with Terminix to develop product lines featuring proprietary TyraTech Naturals™ that deliver the highest level of potency with a superior safety profile
- The first 2010 order for Terminix SafeShield™, expected in Q1 of 2010, represents a significant increase in product volume from 2009
- Additional products and product lines will be developed for delivery in 2010 and beyond
Under the Agreement, Terminix and TyraTech will work together to develop and market effective pest control products incorporating TyraTech Natural insect control technology platform. The expanded partnership will enable the development of new and innovative products and the expansion of existing product lines.
Building on the success of Terminix SafeShield in 2009, the new products will be launched under established Terminix brands that will be co-branded with TyraTech Nature's Technology brand, to provide insect control that is both highly effective and environmentally friendly.
Terminix provides pest control for over 2.8 million homes and businesses against all types of pests in 45 U.S. states and in 14 countries internationally through its network of 864 service centers worldwide. TyraTech has developed a series of products from its proprietary natural ingredients that have been engineered to deliver powerful insect control that is safe for use in homes and businesses against a broad spectrum of common commercial pests including drain flies, fruit flies, cockroaches and ants. This collaborative commercialization relationship will combine and leverage Terminix's strong brand and position as a seasoned market leader in pest control with TyraTech technology and innovation capabilities.
Commenting on the announcement, Alan Reade, Executive Chairman, TyraTech, said: "The expansion of this strategic partnership agreement demonstrates the strength of TyraTech's evolving commercialization relationship with Terminix. This collaboration has already successfully produced SafeShield, our environmentally responsible pesticide for use against crawling and flying household insects, which forms an important part of Terminix's professional pest control package. We look forward to developing further innovative products together for US consumer, professional pest control, commercial, and government markets."
Also commenting on the Agreement, Thomas G. Brackett, Terminix President and Chief Operating Officer, said: "We have seen phenomenal results with TyraTech's line of products, and the expansion of this strategic partnership will allow us to take even more innovative pest control solutions to market and give our customers eco-conscious options when it comes to ridding their homes and businesses of pests. Our customers have been thrilled with the offerings our alliance with TyraTech has already produced, and we believe we're only scratching the surface of what is to come."
For further information please contact:
| TyraTech Inc. Alan Reade, Executive Chairman www.tyratech.com |
1 (321) 409 - 7720 |
| Nomura Code Securities Chris Golden/Clare Terlouw www.nomuracode.com |
+44 (0)20 7776 1200 |
| Buchanan Communications Lisa Baderoon/ Catherine Breen/Stasa Filiplic www.buchanan.uk.com |
+44 (0) 20 7466 5000 |
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