Timestrip Trial with Premier Foods
Timestrip joint chief executive Reuben Isbitsky said the trial could lead to "wider opportunities" with Premier Foods.
04/12/2007 Timestrip has taken a major step towards wider adoption of its smart label technology through a trial with Premier Foods.
From the middle of December, Timestrip labels will feature on jars of Premier Foods' Branston Original pickle sold by Tesco throughout the UK.
The labels, which monitor how long perishable food products have been open or in use, will be mounted on a perforated neck collar. Consumers activate the Timestrip when they first open the jar and affix the smart label to the top of the lid. They are then able to monitor how long the container has been open.
Timestrip joint chief executive Reuben Isbitsky said the trial could lead to "wider opportunities" with Premier Foods.
Premier Foods, which called the Timestrip technology "exciting", sells more than 23 million jars of Branston pickle a year, to one in three UK households. Its top 10 brands, including Bisto, Branston, Hovis, Mr Kipling and Oxo, have annual sales of more than £1.1bn.
Timestrip's smart label technology is already used by brand owners Curver, Henkel and Nestlé, as well as Bayer and Whirlpool.
The firm recorded a loss of £730,429 and turnover of £109,647 in the six months to 30 June 2007. However, it had cash resources of £1.83m, which Timestrip's board considered to be sufficient to take the business into profit.
Timestrip's share price rose 0.12p to 6p after the announcement this morning (3 December).
