SERSTECH AB: Serstech receives 1.2 MSEK order from OEM partner

Serstech has today received its initial order from its first European OEM partner, which signed an agreement with Serstech in May 2017 . The order will be delivered and invoiced within two weeks.

The products have been adapted to the visual branding requirements from the partner and are functionally similar to Serstech’s own products. The adaptation work has been completed over the summer and the first 460 KSEK of this work has been invoiced and paid in August, with the remaining parts being invoiced in Q3 and Q4.

The partner is planning to launch the products under its own name in late September. The order is the first in what is expected to be a series of orders.

“We are delighted to receive this order and to see that the strategy adjustment we initiated in Q1 is already showing results. We have spent a lot of time the last six months on building distribution and we continue this work with increasing speed during the fall and winter.”, says Stefan Sandor, Serstech CEO.

For further information please contact:
Stefan Sandor,
CEO, Serstech AB
phone +46 739 60 60 67
e-mail: ss@serstech.com
or visit www.serstech.com

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.