Aqua Bio Technology ASA (Oslo Axess: ABT) today announced a partnership with Amway, one of the world's largest direct sellers, for the use of ABT's lead ingredient Aquabeautine XL® in ARTISTRY® skincare products. ABT expects the agreement to provide revenues of at least NOK 8 million over the next 30 months, with a significant upside potential.
"The agreement with Amway is our most important commercial milestone to date. It confirms the potential of Aquabeautine XL® as a key component in the next generation of skincare products. Furthermore, our relationship with Amway will serve as an important reference as we roll out our new marketing strategy," said ABT's CEO Arvid Lindberg.
Michigan, US-based Amway is a worldwide leader in direct selling, with more than three million Independent Business Owners (IBOs) in more than 80 countries and territories around the world. Its ARTISTRY® is among the world's top five, largest-selling, premium skincare brands.*
"Aquabeautine XL® is a unique marine ingredient, and a gentle and natural skin refinishing agent. It helps to improve the efficacy of our skincare formulations and underscores our commitment to R&D excellence," said J.C. Leverett, senior research scientist for Amway.
Aquabeautine XL® is a marine ingredient derived from salmon and developed with ABT's proprietary and patented technology. Marine ingredients have the potential to replace petroleum-based ingredients, creating a new generation of sustainable, environmental friendly and gentle skincare formulations with high efficacy.
For further information, please call Arvid Lindberg, CEO, telephone +47 9824 5410
About Aqua Bio Technology ASA (www.aquabiotech.no)
Aqua Bio Technology ASA (ABT) develops, produces and markets patented ingredients and technologies to the international cosmetic and skin care industry. ABT's lead ingredient Aquabeautine XL® is a patented marine solution derived from the hatching fluid of salmon. The ingredient adds moisture and improves the renewal of skin cells in an effective and gentle manner, providing anti-aging effects. ABT is listed on the Oslo Stock Exchange's Axess market.
About Amway (amway.com)
Amway is one of the world's largest direct selling businesses. Amway's parent company, Alticor Inc., reported global sales of $10.9 billion in 2011. Founded in 1959 and based in Ada, Michigan, USA, Amway offers consumer products and business opportunities in more than 80 countries and territories worldwide. Amway's top-selling brands are NUTRILITE® vitamin, mineral and dietary supplements, ARTISTRY® skincare and colour cosmetics, and eSpring® water treatment systems. The company provides product development, manufacturing and logistics services through its Access Business Group and Alticor Corporate Enterprises divisions. For company news, visit globalnews.amway.com. For media questions contact 616-787-7565 (Michigan, United States) or mediainfo@amway.com.
*Source Euromonitor International Limited; Beauty and Personal Care 2011, premium cosmetics and premium skincare category and subcategory; global 2010 value RSP.
