Memorandum of Understanding w

RNS Number : 4900X

Photo-Me International PLC

07 December 2010

 



Photo-Me International Plc ("Photo-Me" or "the Group")

Memorandum of Understanding with major OEM

Photo-Me (PHTM.L), the instant service equipment group, is pleased to announce that it has signed a Memorandum of Understanding ("MOU") with a major OEM for the distribution of Photo-Me's Photobook Builder.

This product is part of Photo-Me's Photobook suite of products and the Builder is designed to be used in conjunction with a digital minilab. To date, the overall complexity of photobook production has deterred retailers from embracing existing solutions. The process can be quite labour intensive such that it is not cost effective. Photo-Me's Photobook Builder scores, folds, glues, binds and trims product without any operator intervention and produces photobooks fully built and finished, ready for consumer delivery.

The MOU contains a firm commitment from the OEM for the delivery of 1,000 machines (and associated consumables) by July 15^th 2011.

Both KIS (Photo-Me's Grenoble based subsidiary) and the OEM have a common sales target of 5,000 machines over an 18-month period and both companies will be working to achieve that goal through the marketing of the machines through the OEM's normal channels of distribution around the world.

Serge Crasnianski, CEO of Photo-Me commented:

"This is the first significant order for our Photobook Builder, which combined with the orders we have received already for our Pocketbook Makers, shows that this is a strong new suite of products.  As we will be announcing results in two days' time, on Thursday 9^th December it is inappropriate to talk about prospects at this stage. It is clear however that this order is very positive and will provide further underpinning for our performance over the balance of this year and beyond".

Enquiries: Photo-Me International Serge Crasnianski or Françoise Coutaz-Replan	01372 453 399
Media Madano Partnership Charles Reynolds/Sarah Mylroie	020 7593 4000
Investors IR Focus Neville Harris	020 7593 4015

Notes for editors:

Photo-Me (www.photo-me.co.uk) has two main activities: Operations and Sales & Servicing

Operations comprises the operation of unattended vending equipment, in particular photobooths, digital printing kiosks, amusement machines and business service equipment. With 21,450 sited worldwide, Photo-Me is the world's leading operator of photobooths.

Sales and Servicing comprises the development, manufacture, sale and after-sale servicing of this Operations equipment and a complete range of photo-processing equipment, including photobook makers, kiosks and minilabs, together with the servicing of third party equipment.

 

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