Newspaper article The Journal (Newcastle, England)

Bargain Invention Could Make Millions for Partners

Newspaper article The Journal (Newcastle, England)

Bargain Invention Could Make Millions for Partners

Article excerpt

Byline: By Graeme King

An inventive duo hopes to make millions after signing a deal to sell their new locking system which they hope will revolutionise building security.

Bluemore, in Consett, County Durham, is working with a major distributor in Kent and predicts sales of pounds 25m in its first year - though Bluemore itself will take just a fraction of this as a royalty for each of the hi-tech locks sold.

The man behind the company is Keith Devanney, a Northumbria University graduate who has already won a Government-sponsored Smart Award for his innovative ideas.

He is working with business partner Matthew Stothard, a 21-year-old self-taught computer expert.

The pair have licensed their technology to PCCG (Personal Computer Components Group), at Sevenoaks, which formerly traded as Tiny Computers.

The locks are made in China, then returned to Bluemore to be programmed before being sent to customers. And through distribution deals throughout the US, Canada, the Far East and Australia, the company expects to sell 300,000 locks this year. …

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