Business
Komet strikes agreement with Wal-Mart
The agreement will allow this Quebec Company's products to be offered in more than 400 of the int...
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[{"type":"text","content":"\n\n\n\nThe agreement will allow this Quebec Company's products to be offered in\n\n\nmore than 400 of the international retail giant's branches\n\n\nMONTREAL, Aug. 20 /CNW Telbec/ - Mr. Francois Nadeau, Interim President\nand Chief Executive Officer of Komet Manufacturers Inc. "Komet," (TSX-V: AQD),\nis pleased to announce that the Company has concluded an agreement with\ninternational retailer Wal-Mart. The minimum one-year agreement will allow\nKomet to sell its range of products to more than 400 points of sale belonging\nto the global giant across the country. In addition, it will also be possible\nfor the two parties to renew the terms of the agreement. This agreement is\nestimated to be worth several hundred thousand dollars for the current year.\n\n\n"Clearly, working with a retailer of Wal-Mart's size and strength shows\nthat Komet is achieving its pan-Canadian objectives and that its products are\nexportable. Despite the slowdown in retail sales across the country, we are\nenjoying success. This is especially thanks to major agreements made with\nretail giants such as Wal-Mart," said the Company's President, Francois\nNadeau.\n\n\nDistributed under the brand name Aquadis, complete kits, which include a\nvanity, sink and tap, will be available at Wal-Mart stores in every Canadian\nprovince. In addition to this agreement with Wal-Mart, the Company has\nrecently announced several business partnerships with other major retailers,\nincluding The Home Depot, Rona and Reno-Depot. The total value of these\ncontracts amounts to more than ten million dollars.\n\n\n"We are highly enthusiastic about Komet's future and are continuing our\ndevelopment efforts following our planned growth strategy. This new agreement\nis perfectly in line with this strategy," said Marc Nadeau, Vice-President of\nthe Company.\n\n\nAbout Komet\n\n\nKomet, a Quebec corporation headquartered in Blainville, has been listed\non the TSX Venture Exchange since 2007. The Company specializes in designing\nand manufacturing bathroom furniture products, which are marketed under the\nAquadis brand name. Since the Company's launch, Komet has rapidly enjoyed\nsuccess in the home improvement market due to the quality, affordability and\nease-of-assembly of its wide range of bathroom furniture products. In Canada,\nKomet's market presence...