Backing the right horse in crisis times: A forward-looking partnership between Pegasus Development AG and the UK-based chemical company Nuevo
CHUR, SWITZERLAND - EQS Newswire - 24 March 2020 - Restaurants
and coffee shops are closed. The doors of shopping centres and shops remain
closed. Most of the production facilities are at standstill or have gone into
short-time working. In short: the economy has ground to a halt.
However, there are a number of industries that are
benefiting strongly from the corona crisis. The current high demand for
disinfectants plays into the cards of chemical, pharmaceutical and biotech
companies. It is precisely these companies that have seen an enormous sales
boom in recent weeks. Due to the enormous demand, most of the companies in this
industry now have the problem to keep up their production. Gradually, all
companies in the sector are running out of ethanol reserves. Due to the
explosive demand, this raw material is currently very difficult to obtain, and
even when it can be, it is extremely expensive.
This is a problem that the UK-based chemical company NUEVO
does not have, because their disinfectants are based on vegetable surfactants
rather than alcohol. Thus, the company is not only able to maintain its
production, but is also planning to expand its production facilities together
with its new financially strong partner Pegasus
Development AG on the back of the ever-increasing demand.
Pegasus Development AG has not only secured the trademark
rights but also 100% of the distribution rights of Nuevo. It is a new division
for the Swiss investment company. Roberto Spano, Member of the Board of
Directors, commented on the venture as follows: "With our worldwide
network and many years of experience in logistics and transport, we are not
only meeting the high demand, but are also remaining true to our aspiration to
promote continuous growth. Every crisis presents opportunities. As Pegasus
Development AG, we have made it our business to recognise these opportunities
and, together with our partners and investors, to take advantage of every
market situation to generate profits."
It seems as if Pegasus Development
AG has backed the right horse again. A horse with wings.
The
issuer is solely responsible for the content of this announcement.
