Amendments in agreement with leading Nordic paint company

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Amendments in agreement with leading Nordic paint company

The 25 October the OrganoClick-group ("OrganoClick") entered an agreement with a leading Nordic paint manufacturer. Due to a misscalculation of the paint manufacturer, the yearly volume demand is lower than previously communicated, and therefore the agreement has been re-negotiated with the following effect for OrganoClick:

  • The prices for every product has been increased, improving the gross margin for OrganoClick
  • The effect from the reduced sales volume but increased product prices is a reduced gross profit / year of SEK 1.5-2.0 million for OrganoClick from the Agreement
  • In order to compensate for the redeuced gross profit, the Agreement has been pro-longed from 2 to 5 years

For more information, please contact:

Mårten Hellberg, CEO

0707 - 16 48 90, marten.hellberg@organoclick.com

.

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About OrganoClick

OrganoClick AB (publ) is a public Swedish cleantech company listed on Nasdaq First North. The company develops, produces and markets functional materials based on environmentally friendly fiber chemistry. Examples of products that are marketed by OrganoClick are the water-repellent fabric treatment OrganoTex®, the flame and rot-resistant timber OrganoWood®, green biocomposites branded OrganoComp®, biobinders for nonwoven materials and BIOkleen®s cleaning and maintenance products for house and home. OrganoClick was founded in 2006 as a commercial spin-off company based on research performed at Stockholm University and the Swedish University of Agricultural Sciences within environmentally friendly fiber chemistry. OrganoClick has won a number of prizes, such as "Sweden's Most Promising Start -up" and "Sweden's Best Environmental Innovation", and has also received a number of awards, such as the WWF "Climate Solver" award and has also appeared for two years on the Affärsvärldens and NyTekniks list of Sweden's top 33 hottest technology companies. OrganoClick has its head office, production and R&D located in Täby, north of Stockholm. OrganoClick's Certified Adviser on Nasdaq First North is Erik Penser Bank.

The information in this press release contains information that OrganoClick AB (publ) is obliged to release according to the EU's market regulation law number 596/2014. The information was published, of the contact person above, 20th of December 2018 at 8:00.

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