Serstech today reached its goal to sign 20 distribution partner agreements in 2018. The number of partners will continue to increase during the rest of the year and in 2019, with the goal to triple the current number of partners in 2019.
Security tenders are typically not made fully public and memberships in local security supplier organizations and the ability to provide local support are often prerequisites for participation in these tenders. During the year, Serstech has focused on those it has designated as prioritized markets and the distribution network now provides access to almost all of these markets through at least one partner.
The quickly expanding partner network goes beyond the security market and Serstech’s products are now made available also in pharmaceutical, laboratory, environmental and other verticals. While security will remain a primary focus, the increasing demand for hand-held Raman instruments also outside security makes the non-security partners and verticals more and more important.
“We have now defined and built the foundation we need to have in order to reach our goals. We already see that the market access we have created is yielding results, with a current quarter that will show sales numbers that are by far the best of the year”, says Stefan Sandor, Serstech CEO.
“During the year, we have gained a much better market understanding and it is evident that we have a very strong offer – our solution is one of the best and our price is among the lowest of the relevant competition. The only thing that has been missing is the distribution and thereby the market access and presence, which we now have in place”, continues Stefan Sandor.
Serstech AB (Publ.) Is required to publish the information in this press release under the EU Market Abuse Regulation. The information was submitted for publication on November 27, 2018 at 08.45:00 AM.
About Serstech AB
Serstech delivers solutions for chemical identifications and has customers across the world, mainly in the safety and security industry. Typical customers are customs, police authorities, security organisations and United Nations. 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 and you find more information about the company at: www.serstech.com. Certified advisor to Serstech is Västra Hamnen Corporate Finance AB.