- The last time Advance Nanotek was represented by a distributor in Italy was 2017, until Managing Director Geoff Action struck a deal with company Eurosyn S.p.A
- The Italian distributor has signed for an initial term of 12 months
- Advance Nanotek’s leading product is Zinclear, a skin and suncare cream made from enhanced zinc oxide
- Geoff Action believes the extra boost in European representation will help the quarter’s sales in the region exceed $400,000
Advance Nanotek added an Italian distributor to its roster this morning and boosted 12.9 per cent in the market shortly after.
The company Managing Director, Geoff Action had been taking meeting overseas in Europe before crossing paths with distributors Eurosyn S.p.A.
Advance Nanotek will now be distributing its portfolio of advanced materials through the Italian company for an initial term of 12 months.
Advanced materials are those of semiconductors, biomaterials and nanoengineering. As of today, the leading product for Nanotek is its skin and suncare cream ZinClear, a product made from enhanced zinc oxide.
The last time Advance Nanotek were represented in Italy was in 2017. The company believes the new agreement from today will help for this quarter’s European sales orders to exceed $400,000.
If achieved, it would be a 145 per cent increase from last quarter’s European business end.
Currently, the company’s products are distributed in 16 countries and reselling in seven. This includes America, Japan, Israel, Australia, India, China, Canada and more.
Advance Nanotek products are also sold in over 29 chemist franchisers in these countries.
According to the company’s media release today, it’s receiving business commitments for distributing to France, Spain, Portugal, Belgium and Luxembourg.
Advance Nanotek is negotiating further distribution agreements for the UK and Germany.
Over the next 12 months, the company will be focusing on expanding its European sector of business above all else.
Geoff Action made mention of potential business with Finland in today’s media release.
“Perception from discussions with potential distributors in Europe is zinc is gaining traction, as an example, we have an approach from Finland for an initial order of $31,000 for our zinc powder,” he wrote.
Today, shares in ANO are trading for $5.33 a piece, compared to yesterday’s closing price of $4.72. The company’s market cap is valued at $278.1 million.