Market Update ASX announcement in response to the COVID-19 pandemic. Please read the full ASX announcement here: https://www.asx.com.au/asxpdf/20200319/pdf/44g69stvkjdhrm.pdf
Bluechiip Limited [ASX:BCT], a leader in the development of sample tracking technology for
harsh environments, provides this update to the Australian Securities Exchange.
The effects of the COVID-19 pandemic continue to evolve at a rapid pace.
• The company’s European supply chain has continued to deliver albeit with some
timing disruptions. However this is being monitored closely as the situation is evolving
• In China the company is beginning to see re-engagement from suppliers;
• Sales contracts and agreements, including standing orders, remain in place;
• Delivery schedules and volumes (on the buy and sell side) are under constant review;
• Near global travels bans are impacting sales and marketing activities, particularly
major trade shows.
Andrew McLellan, Bluechiip Ltd Managing Director, said:
“COVID-19 is a herculean challenge for everyone. Bluechiip’s financial position is solid as we
have over $10m in the bank and a number of customer contracts on foot including the
US$15m supply agreement with USA-based Labcon.
We are using the disruptions, slow-downs and travel bans to actively reduce and manage
costs while continuing to focus on our R&D program. This includes progressing potential OEM
partner programs, and refining and adapting our technology to multiple applications including
IVF, blood bags and cell therapy markets. Focusing on this will see us with further progressed
and expanded portfolio when we come through this crisis.”
Authorised for lodgement: Lee Mitchell, Company Secretary
For more information contact:
Andrew McLellan Richard Allen
Managing Director / CEO Ph: +61 3 9915 6341
Ph: +61 457 823 470 Oxygen Financial PR