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Zenova Group PLC - London-based fire safety product manufacturer - Secures a two-year contract worth £2.4 million with Drips & Sparks Ltd, a London-focused provider of electrical fittings and services. Zenova will supply 200,000 litres of its fire protection coating to Drips & Sparks, which will use the product at the UK projects sites of Gracewood Construction Ltd. The contract comes after a 12-month trial of Zenova’s coating by Drips and Sparks.
Chief Executive Officer Thomas Melchior says: ‘This is a major contract win for our [fire protection] paint. In addition to a significant effort from our sales team working alongside Zensafe, winning this is also the result of the company’s now well-engaged strategy of focusing on validating and aggressively marketing our best-in-class fire suppression products through a streamlined B2B distribution model.’
Current stock price: 2.10 pence per share, up 11% in London on Monday
12-month change: down 60%
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