BRASTER has begun building a production line
In November 2015, BRASTER S.A. will have a complete production line of liquid crystal matrices, which are the key component of the Braster device, in line with the agreement signed with the contractor. This will allow BRASTER to introduce the device for sale in the second half of 2016, as planned. BRASTER, which is now moving its listing to the main market of the WSE, is the owner of a unique technology for breast cancer diagnostics.
According to the current strategy of the Company, the construction of the technological line will be completed by the end of this year, while all the required tests, acceptance, and launch will take place in the first half of 2016.
"The agreement guarantees that the machines will be delivered to our production premises by the end of November this year and the launch of the system, its start-up, and production tests will be completed in May 2016. The signing of the agreement is a very important step towards achievement of our strategic goals and confirmation of assumptions, based on which the schedule of work leading to market placement in the second half of 2016 was prepared."– says Marcin Halicki, President of the Board of BRASTER S.A.
The cost of the production line will amount to approximately PLN 11.72 million. A part of this amount, PLN 4.02 million, has already been secured in the form of an EU grant obtained under Measure 4.1. BRASTER plans to cover the remaining costs with funds obtained from investors under the planned Public Offering of shares.
"We must remember that a rather significant part of the investments has already been completed. We now have the production hall ready for finishing along with necessary infrastructure. The cost of construction so far has amounted to PLN 1.1 million. We also have reserved subsequent significant funds for continuation of works". – explains Konrad Kowalczuk, Member of the Board and Financial Director of BRASTER S.A.
The contractor will be AB Industry S.A., which has many years of experience in the design and launch of industrial production lines. The company has carried out projects in Poland and elsewhere in Europe in numerous industry sectors, from the food sector through pharmaceutical to the automotive industry.
"We have been cooperating with AB Industry for some time. We jointly prepared, among other things, the prototypes of our machinery and equipment. We rate their competence very highly. They already know our technology, product, and expectations. All this guarantees that the order will be performed efficiently and on time". – explains Henryk Jaremek, PhD, Deputy President of the Board and the main technologist of BRASTER S.A.
At the end of January, BRASTER filed a request to the Polish Financial Supervision Authority for the renewal of proceedings on approval of the issuing prospectus. The approval of the prospectus will allow the company to move its listing to the main market of the Warsaw Stock Exchange (WSE).