Applied DNA Sciences Inc (NASDAQ:APDN) had some time back dropped a hint about it signing into a new licensing agreement with Himatsingka America, Inc. The latest news about it keeping its promise has excited a lot of the concerned parties. They see it as a major step forward towards the company thriving in business. That will eventually help it generate high revenues which it plans to use towards making major improvements in service delivery.
CEO of Applied DNA while addressing a press conference said, “This new agreement represents a strengthened partnership between Applied DNA and Himatsingka, as both companies are committed to meeting the need for supply chain traceability, transparency and trust within the cotton industry. Applied DNA is looking forward to continuing to work with the Himatsingka Group, and we are excited at the opportunity to expand market awareness and implement the technology into additional cotton supply chains.”
The Managing Director & CEO – Himatsingka Group, Shrikant Himatsingka, has been quite outspoken in regards to the matter. He has said that they hope to take the Applied DNA technology platform global and expect that the recent developments will be to the best interests of its stakeholders across the cotton value chain.
Himatsingka Group has over the years taken great pride in its top-class manufacturing and distribution capabilities. It will be seeking to leverage on this to see to it that these innovations by Applied DNA are given their rightful place across global shelves as well as cut through to the new categories of products.
While speaking to a number of journalists recently, one of the top executives working with Himatsingka Group said that the company had some time back made an important move by resolving to expand its manufacturing facilities. They hoped that it would help them generate more revenues that would help them implement some major expansions.
It had involved some backward integration into spinning as well as the commencement of terry towels business and at the moment the company is reaping the associated benefits according to Yahoo.