Grant Receipt

RNS Number : 3662L

Zytronic PLC

05 May 2010

 



For Immediate Release

5 May 2010

ZYTRONIC PLC

Grant receipt by Zytronic plc and Zytronic Displays Limited (the "Zytronic Group")

Zytronic plc announces that the Zytronic Group has been awarded a second and final payment of £540,000 under the Selective Finance for Investment (SFI) grant scheme.

Notification of the payment of the instalment was received yesterday from One North East, the local Regional Development Agency.

The grant has been given to the Zytronic Group in relation to the development of its ZYPOS® project, commenced in mid-2005, to create and staff a new manufacturing facility for its then recently launched ZYPOS® touch sensor products. The refurbishment and equipping of the manufacturing facility, of nearly 20,000 square feet, which was completed in 2008, has enabled the Zytronic Group to increase production volumes of touch sensor products.

The first instalment of the grant, of £60,000, was received in March 2008.  This second and final instalment will be amortised over the period to 31 March 2013, in line with both the first instalment and the Zytronic Group's accounting policy on government grants.

Contacts:
Zytronic plc	0191 414 5511
Denis Mullan
Brewin Dolphin	0845 213 4730
Andrew Emmott
Buchanan Communications	020 7466 5000
Richard Darby / Isabel Podda/ Ben Romney

 

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