PTM enters US and expects 15-20% sales growth in 2010

2010-02-10

Pani Teresa Medica (PTM), the listed manufacturer of medical textile products, expects to generate at least PLN 20m (€5m) in sales revenues in 2010 and to return to a 15-20% rate of sales growth already this year, after a slowdown in 2009, CEO Dariusz Nikolajuk told Parkiet.
Whether the company fulfils these plans will depend on its success in entering three crucial new export markets: Russia, Germany, and the United States. The first delivery to the US has just been completed, but there are no sales data yet, Nikolajuk said. The entry into Russia is now expected to take place in the second quarter of the year. This means that there is some slippage in relation to earlier plans (in December the company said it expected first deliveries to take place before the end of last year). PTM is currently in talks with two major Russian distributors of medical devices about a marketing agreement. The deal with the selected partner is to be signed in March.
Meanwhile, the company aims to establish a subsidiary in Germany which will be responsible for sales there. It will work with a German logistics partner. However, PTM is still awaiting reimbursement approvals for its products from German authorities, a precondition for launching sales on this market.