Weimar/Bitterfeld, 8 June 2020 - IBU-tec advanced materials AG ("IBU-tec", ISIN: DE000A0XYHT5) has been informed by a pharmaceutical group that the collaboration between the two companies will be extended beyond the initially planned date. As a result, IBU-tec is now expected to supply this customer with a chemical catalyst until at least the end of 2021. Originally, deliveries were only planned until the end of the third quarter of the current year. IBU-tec expects additional revenue potential in the mid-single-digit million euro bracket by the end of 2021. By far the largest part of this will occur in the coming year, but even in the current year a sales contribution in the noticeably six-figure euro range is expected.
The chemical catalyst is produced by IBU-tec's group company BNT Chemicals. Among other things, the organotin compound is used in various synthesis steps in the pharmaceutical industry and in this specific case, it is used for a drug to lower blood pressure.
The additional revenue and earnings contribution from the collaboration increases the predictability of business development at IBU-tec for the end of 2020 and the year of 2021.
Ulrich Weitz, CEO of IBU-tec: "The desire for continued supply by IBU-tec shows once again the quality of our products. The unscheduled continuation of the collaboration helps us to cushion fluctuations in some other areas of business development. This increases our confidence that we will be able to achieve our plans for the current year and beyond. Against the backdrop of COVID-19, it has become apparent that the concentration on supplier relationships and products from the Far East is being critically questioned by many companies, especially in the health care sector.”
The IBU-tec Group develops and produces innovative materials of the highest quality for the industry. It combines unique, partly patent-protected thermal process engineering, with the process and material know-how of around 250 highly qualified employees.
The products are important components of battery materials for electric mobility and stationary energy storage, as well as solutions for air purification, resource conservation or the reduction of plastic packaging. IBU-tec is thus in a long-term position to respond to global megatrends, especially in the fields of climate and environmental protection. It has an international customer base ranging from innovative medium-sized companies to global corporations.
Further information can be found online at www.ibu-tec.de.
Eschersheimer Landstraße 42-44
Tel. +49 (0) 69-905505-52
IBU-tec advanced materials AG
Tel.+49 (0) 151 67955683