SciTOX Reduces Costs; Brings Production to Christc

SciTOX Reduces Costs; Brings Production to Christchurch

SciTOX announces that it has brought more of its product manufacturing to Christchurch from overseas locations. This process has resulted in reduced production costs, and eliminated the additional transport costs.

SciTOX was created through a public investment in late 2008, and shipped its first products in November of 2009. “The original Investment Statement included a desire to bring production and jobs to the Christchurch area wherever feasible,” said Ralph Wattinger, the CEO of SciTOX. “That we were able to increase production sources within the region, reducing costs while improving quality, speaks to the opportunities that can be found here,” he added.

The products produced by SciTOX are market-focused, Rapid Toxicity Measurement Systems (RTMS). The production brought to Christchurch includes the replacement of soft-moulded plastics with cast and machined plastics, epoxy, and aluminium.

As an indicator of the success of SciTOX’s performance, Lincoln Ventures Limited (LVL) recently took up a share option on the company, and their CEO, Peter Barrowclough, has assumed a position on the Company Board. "We are thrilled at the progress that SciTOX have made in commercialising Lincoln Ventures Ltd's technology. To find out that SciTOX can source manufacturing capability in Christchurch that competes positively against suppliers in China is icing on the cake," Mr. Barrowclough said.

The Investment Process that created SciTOX was funded, in part, through the New Zealand Venture Investment Fund (NZVIF), and involved initial and continued support through the Economic Development Association of New Zealand (www.escalator.co.nz) and Canterbury Development Corporation (www.cdc.org.nz).

SciTOX sells and supports its products through established, trained distribution offices globally. Seminars and customer demonstrations are offered throughout the world. Details of these seminars, together with contact information for every distributor can be obtained by visiting the SciTOX website at www.SciTOX.com.

ENDS

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