Business
Agency Agreement for Mexico
Agency Agreement for Mexico.
About this update from Quadrise Plc
[{"type":"text","content":"\n \nRNS Number : 7456B Quadrise Fuels International PLC 11 June 2019 \n\n11 June 2019\n \nQuadrise Fuels International plc\n(\"Quadrise\", \"QFI\" or the \"Company\")\n \n \nAgency Agreement for Mexico\n \n \nQuadrise is pleased to announce that the Company has entered into an agency agreement (the \"Agreement\") with Laqua S.A. de C.V. operating under the Redliner name in Mexico (\"Redliner\").\n \nRedliner is a company that has over 30 years of experience in industrial infrastructure rehabilitation in Mexico for the oil and gas, water, and chemical industries. They import new technology into Mexico for applications where traditional methods have failed, and where performance and precision is paramount. They have a range of leading partners throughout Europe and the USA and have worked in PEMEX (Petróleos Mexicanos) owned refineries located in Chiapas, Tabasco, Tamaulipas, Hidalgo, Oaxaca, Nuevo Leon and Guanajuato.\n \nThe Agreement defines the structure through which Quadrise and Redliner will work to combine their expertise on an exclusive basis to seek to fast-track potential MSAR® projects to long-term commercial agreements for the production and supply of MSAR® technology, services and fuel in Mexico. The country is also covered by the existing Co-Marketing and Project Development Agreement with Freepoint Commodities LLC announced by Quadrise on 30 November 2018. \n \nThe fees payable to Redliner under the Agreement are success-based commissions, related to a percentage of gross sales received by Quadrise in Mexico from the provision and sale of MSAR® technology, services and fuel. \n \nThe term of the Agreement is 18 months from signature and will automatically renew for similar periods unless terminated by either party or superseded by another agreement.\nCommenting on this development:\nMike Kirk, Executive Chairman of QFI, said:\n\"We are excited to be working jointly with Redliner to propose and implement MSAR® projects in Mexico for refinery and power generation applications.\nWe believe that the timing for deploying MSAR® in Mexico is excellent and aligned with initiatives of the new government for the energy sector, and Redliner are exactly the type of partner that we need in Mexico to progress projects at pace.\"\nAlejandro Rojas, Managin...