Serstech signs OEM agreement with Environics

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Serstech has today signed an OEM agreement with Finnish gas detector manufacturer Environics, one of the global leaders in handheld gas detection. In the first half of 2018, Environics and Serstech initiated a sales cooperation, targeted at mainly US firefighters and HazMat (Hazardous Materials) teams. The cooperation is now starting to bear fruit and the first deliveries are to be made in 2020.

Environics will place a frame order in December 2019 of approximately 3 MSEK and the order will be delivered and invoiced in 2020. The products sold under this agreement will be co-branded, as opposed to Serstech’s previous OEM agreements, in which Serstech’s brand is not visible.

The US market has more than 7000 HazMat teams and each county typically makes its own purchasing decisions, i.e. this market requires a large sales effort. Environics has a strong focus in US and a wide partnership network with resellers in this important civilian security market.

“We are happy and proud to sign this agreement and strengthen our cooperation with Environics, which is one of the market leaders in the gas detection area. The combination of handheld Raman and handheld gas detectors is exactly what this customer group needs”, says Stefan Sandor, Serstech CEO.

For further information, please contact:
Stefan Sandor,
CEO, Serstech AB
tel: +46 739 606067
email: ss@serstech.com

Thomas Pileby,
Chairman of the Board, Serstech AB
tel: +46 702 072643
email: tp@serstech.com 
Company website: www.serstech.com

This is information that Serstech AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above at 11.00 CET on November 28, 2019.

Certified advisor to Serstech is Västra Hamnen Corporate Finance AB, phone: 040-20 02 50, e-mail: ca@vhcorp.se

About Serstech
Serstech delivers solutions for chemical identification and has customers across the world, mainly in the safety and security industry. Typical customers are customs, police authorities, security organizations and first responders. The solutions and technology are however not limited to security applications and potentially any industry using chemicals of some kind could be addressed by Serstech’s solution. 

Serstech is traded at Nasdaq First North Growth Market and more information about the company can be found at www.serstech.com