Paris, January 26, 2024–MASTRAD (EURONEXT GROWTH: ALMAS; ISIN: FR0004155687),
pioneer company in kitchen utensils, announces its recent entry into safeguard procedure while unveiling its strategic plan for a rapid exit.
By judgment dated January 16, 2024, the Paris Commercial Court opened a safeguard procedure for the benefit of Mastrad SA. This allows the company to give itself more visibility to realize the actions implemented and the opportunities identified during the last CES.
Safeguard Procedure to Support Growth
Initiated before the end-of-year holidays, MASTRAD’s request for safeguarding was approved by the Commercial Court on January 16, 2024. The procedure, lasting 6 months, will be managed by a legal representative who will propose payment schedules to creditors prior to this date. During this period, the operation of MASTRAD continues normally, with particular attention paid to relaunching the activity of temperature sensors for the kitchen.
Presentation at CES under the ORKA brand
Mastrad brilliantly exhibited at CES from January 9 to 12 under the ORKA banner, unveiling the latest generation of its connected probe, Meat°it 3. This new version integrates advanced features such as three high-quality temperature sensors, an optimized algorithm , an extended communication range thanks to BLE 5 technology, and resistance to temperatures of up to 500°C, all protected by American and European patents.
The stand attracted more than 300 visitors, including major players in the barbecue industry, distributors, retail chains, appliance manufacturers and many grilling enthusiasts. The positive feedback and contacts established demonstrate a marked interest.
Future prospects
Building on the connections established at CES and our solid history on the American continent, we are confident in our ability to consolidate our commercial development. The ORKA brand will benefit from increased recognition thanks to our digital presence reinforced by the new website www.orka.tech. Our ambition is to sell 2,000 probes per month online, supported by significant investments to improve our SEO and marketing tools.
In Europe, our privileged partnership with M&Co and our participation in the Ambiente trade fair in Frankfurt underline our continued commitment to this region.
We are convinced, thanks to our technical expertise and our new commercial developments, of being able to quickly revive sales and compensate for the delay in orders from Whirlpool. The priority remains the United States and improving our digital presence to achieve a significant volume of online sales.
About MASTRAD (www.mastrad.com)
Created in 1994, MASTRAD has recognized expertise in the design and distribution of innovative products for the kitchen. After dismissing its activity as a designer/distributor of culinary accessories, MASTRAD now specializes in temperature monitoring, under the brand of its subsidiary ORKA. In a context of increasingly restrictive hygiene standards, constant search for energy savings and a growing demand for food transparency and precision cooking, ORKA’s solutions and in particular its connected probes provide simple and accessible response to the structural needs of the food sector, from producer to consumer.
MASTRAD is listed on Euronext Growth in Paris
ISIN code: FR0004155687 – Ticker: ALMAS
Contacts
Mastrad
Valérie Polop-Fans, Secretary General-
Such. : 01 49 26 96 00
– [email protected]
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