News & Media
Purchasing Agreement with One Of Visonic's Major European Customers
Visonic (LSE: VSC.L; TASE: VSC.TA), the international developer and manufacturer of electronic security systems (alarms) and home management systems, announces that one of its major European customers (“Customer”), who accounted for approximately 9% of sales in the current financial year, has informed the Company on 22 December 2009, that it will not renew its current purchasing agreement with the Company after the agreement’s expiration date, being the 31st December 2009. The Customer has informed the Company that it will “continue its professional partnership with Visonic for years to come, on a different level”.
It is presumed that the purchases of the Customer over the next 12 months will be substantially lower in comparison with this Customer's purchases during the 2009 financial year, but at this stage, Visonic cannot predict with precision the impact on next year's trading. The Company will continue discussions with this Customer regarding its future trading relationship with Visonic.
