HONG KONG and SINGAPORE, Sept. 6, 2013 /PRNewswire/ -- Techcomp (Holdings) Limited ("Techcomp", the "Group", HKSE stock code: 1298, SGX stock code: T43), one of China's leading manufacturers and distributors of analytical & healthcare equipment, is pleased to announce the execution of a contract amounting to USD1.4 million with China Food and Drug Administration for 18 sets of amino acid analyzers. The installation of the units will be carried out in the following few months.
China's high-speed social development has put a spotlight on food issues which requires not only sustainable food safety but also good nutrition. Food quality has been of increasing importance to Chinese consumers as they become more attentive to their overall health and dietary intake. Thus enhancing safety standards and nutritional value of food is among the top priority of the PRC government.
To cater to the expected surge in demand, Techcomp has allocated more resources to manufacture and distribute analytical equipment for testing food ingredients. The strategic move is expected to propel the Group's revenue growth in 2013-2014. Pursuant to the contract, Techcomp delivered 18 sets of amino acid analyzers - the product boasting advanced core technology in testing the essential characteristic of the nutritional value of food - to China Food and Drug Administration, the ministerial-level agency in charge of food safety supervision and drug regulation in mainland China. In view of the PRC government's urgency to ensure food safety standards and quality, the Group is expecting a continuous increase in the demand for its equipment.
Richard Lo, President & CEO of Techcomp, said, "The USD1.4 million contract with China Food and Drug Administration is a testimony of our strong business relations with state-level institutions and their confidence in Techcomp's products.
"The escalating market demand fueled by food safety standards and nutrition concerns has presented good opportunities for our business expansion. The Group, committed to being the brand of choice for analytical equipment, will devote continuous efforts to strengthening our R&D team and meanwhile, stepping up marketing activities to increase market share in the industry. Benefited from the favorable business environment, we are confident to deliver an encouraging financial performance this year," Mr. Lo added.
