- The acquisition in July and the following merger between the Swedish and Finnish arms of the business in forming the new Meltron have actually been very smooth, overriding all the paper work. The team works well together, we have a good structure and clear governance with a professional and very experienced Board. Finnish and Swedish business cultures have a lot in common.
- With the increased capitalization and the great interest in the issue in November we have strengthened our balance sheet considerably and can now approach key market segments with a better backing and meet customers, who are already convinced of our technology and products but want to make business with a stronger company. However, in the near term we still have a challenge since revenues from anticipated sales are always late in relation to costs of goods sold, so we will need additional financing and now work on a bridge to the warrants due in May this year.

Our focus is now on marketing and sales, primarily in Finland, Sweden and Germany/Austria. We are also very optimistic with our work in Oman and the JV in the USA. There are many key offers to be settled in the first part of next year.
- In Finland a recent installation of our ground breaking street light - nick named the 'double bird' - in the city of Lappeenranta has now been lit up just before Christmas and very well received. A taxi driver said: 'I wish we had these lights all over town'.
- We have very promising outstanding quotations in Finland, in some cases we have offered a new combination of products from both the Meltron and Unilight product lines. We already have large industrial customers and hope this will manifest itself early in the year.
- In Sweden we are now mobilizing activities for the whole product range and especially the industrial sectors. With an improved and simplified product we continue to address the agri sector for animal stables, primarily dairy farms. We can demonstrate our products both on site and in our new show room.
- In Austria we have successfully installed the 'milky way', pilot installations of our new lights at three neighboring milk farms with good local response. We actively work with a farmers' purchasing organization.
- For Germany we are now building up our approach to selected markets with a new portfolio of products, incl key certifications, and with participation in important trade shows.
- Following the recent extended certification of our gas explosive proof EX lights we have provided blue chips like Conoco Phillips and Pfizer with new samples and receiving very positive first comments and great interest. Meetings are programmed for early in the year.
- We have sent 20 units of the street lights to Oman for two pilot installations, incl Sultan Qaboo's Highway and the Royal Court. Installation will be made early in the year. A test installation of unique retrofits for traditional 'Victoria' lights was made in November. Key offers for our pylon lights will be settled early in the year, hopefully successfully. Our participation in a local trade show in October was received very positively.
- We are manufacturing 20 street lights for a first pilot installation with ISAP, our JV partner in the US, who will integrate their camera and surveillance systems into the 'Longhorn light', which will be marketed to various branches of the US government. These systems eventually have a much broader application and market in many countries.

Building our production capabilities is a key parallel activity. We have now invested in unique machinery, primarily for the production of the gas explosive proof EX series, which is highly sophisticated. We have initiated a review on outsourcing alternatives to strengthen capability and flexibility.

- We are all looking forward to 2020 with confidence and are ready to take on the challenges from a stronger platform, concludes Ville Sistonen, CEO of Meltron.

För ytterligare information kontakta:
Ville Sistonen, VD Meltron AB, tel: +358 40 746 4781

Meltron AB, Embassy House, Linnégatan 89C, 115 23 Stockholm
Meltron Oy, Laivakatu 3, FI-00150 Helsinki
Läs mer på www.meltron.com
www.meltron.fi

The following documents can be retrieved from beQuoted
Meltron Pressrelease 2020-01-02.pdf