Ava Risk Group Limited (ASX: AVA) (“Ava Risk Group” or “the Company”) is pleased to advise that it has signed a Global Framework Agreement for the Supply of Products and Services with dormakaba International Holding GmbH effective 1 January 2022.
The global agreement enables BQT to sell its products in all jurisdictions in which dormakaba operates, including new markets in the United States and Europe. During FY21, BQT recorded sales of $0.5 million with dormakaba in Australia, New Zealand and Canada. The Company expects to grow this opportunity significantly commencing 2H FY22.
With representatives in 130 countries, dormakaba is a global leader in providing security access control systems, locks, master key systems and digital locking mechanisms. The agreement with Ava Risk Group is testament to the high quality products which BQT manufactures with particular emphasis being placed on the patented Cobalt range of locks which resolve sideload and misaligned door issues.
Commenting on the agreement, Ava Risk Group CEO Rob Broomfield said, “Signing the Global Framework Agreement with an international leader such as dormakaba is a significant milestone and supports our strategy of expanding into new markets with our leading risk management technologies. Planning is well advanced to ‘launch’ BQT products in new markets in which dormakaba operates, as well as to support joint marketing initiatives. Sales under the agreement are expected to commence from January 2022.”
ENDS
Approved for release by the Board of Directors.
For further information, please contact:
Investor Enquiries
Vanessa Beresford Citadel-MAGNUS
vberesford@citadelmagnus.com +61 451 422 892Media Enquiries
Media Enquiries
Alexandra Abeyratne Citadel-MAGNUS
aabeyratne@citadelmagnus.com +61 438 380 057
About Ava Risk Group
Ava Risk Group is a global leader in providing technologies and services to protect critical and high value assets and infrastructure. It operates two business segments – Future Fibre Technology (FFT) and BQT Solutions (BQT). FFT manufactures and markets ‘smart’ fibre optic sensing systems for security and condition monitoring for a range of applications including perimeters, pipelines, conveyors, power cables and data networks. BQT is a specialist in the development, manufacture and supply of high security biometric readers, security access control and electronic locking products. Ava Risk Group products and services are trusted by some of the most security conscious commercial, industrial, military and government clients in the world. www.avariskgroup.com