- Zicom Group (ZLG) has seen its shares soar 120 per cent after its subsidiary, Sys-Mac Automation Engineering, and Sys-Mac’s subsidiary, iPtec, have announced they will produce surgical masks
- The companies will initially produce three million surgical masks in a month to meet the global shortages
- Interestingly, this was intended to be a short-term project, but the companies realised the demand for high-quality surgical masks is sustainable and would be a long-term commercial opportunity
- The masks have received regulatory approvals in Singapore and Australia and Zicom expects approval in Europe and the U.S. will soon follow
- Company shares have soared 120 per cent on the back of today’s news and are trading for 9.9 cents
Zicom Group’s (ZLG) subsidiary, Sys-Mac Automation Engineering, and Sys-Mac’s subsidiary, iPtec, have announced they will produce surgical masks.
The companies will initially produce three million surgical masks in a month on a full production run to meet the global shortages.
The masks have received regulatory approvals from the Health Sciences Authority (HSA) in Singapore and the Australian Therapeutic Goods Administration (TGA) to market to the public.
Zicom claims it should receive CE marking in Europe within the next few weeks. Within the next three to four months, it expects to receive U.S. Food and Drug Administration (FDA) approval.
The masks have now been tested under EN 14683 directives and are classified under Type IIR, which is the highest EN quality standards for surgical use.
“We focus on high-quality surgical masks to provide protection to healthcare personnel and the general public. This differentiates us from ordinary face masks being sold widely,” as stated in the announcement.
Interestingly, the production of these masks was intended to be a short-term project. However, the companies realised the demand for high-quality surgical masks is ever-growing and sustainable and would be a long-term commercial opportunity.
A soft launch has been initiated and sales have been encouraging, but the company doesn’t expect an impact to revenue over the next 12 months.
Company shares have soared 120 per cent on the back of today’s news and are trading for 9.9 cents each at 1:50 pm AEST.