Applied UV, Inc. (NASDAQ: AUVI) is currently exhibiting a positive trajectory on the US financial charts. As of the last check during the current session, the value of Applied UV stock has surged by 20.77%, reaching $2.21. The upswing in AUVI can be ascribed to a triumphant integration initiative recently reported by the company.
This week, Applied UV (AUVI) announced the successful amalgamation of its PURO and Airocide entities into its Sterilumen subsidiary, a strategic move aimed at optimizing its portfolio, curtailing expenditures, achieving margin expansion, and fostering sustainable value for shareholders. The company anticipates that the integration of PURO and Airocide, coupled with other previously executed cost-saving endeavors, will yield an annual reduction of approximately $1 million in ongoing operating expenses, commencing in fiscal 2024.
The resultant product platform, marked by its superior quality and diversified solutions, positions SteriLumen as a truly global player across North America, Europe, Asia, and the Middle East. Furthermore, the synergies harnessed from this integration have empowered Applied UV to leverage its combined product offerings for enhanced revenue growth, technical support, customer retention, and overall customer life cycle management.
The strategic acquisition of PURO has proven to be a judicious decision for AUVI, evidenced by the perpetual demand from global customers for solution providers capable of delivering products worldwide and offering integrated solutions to meet evolving needs. The recent completion of its transformation plan signifies a clear trajectory toward establishing a more profitable and focused Applied UV.
This integration not only positions Applied UV for sales growth but also anticipates substantial ongoing cost reductions. A pivotal move in this direction involves consolidating warehouse and manufacturing operations at AUVI’s Airocide facility in Kennesaw, GA. This strategic shift is poised to optimize Applied UV’s production capabilities, enhance supply chain efficiency, and, consequently, enable the company to better and faster serve its clientele.
