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Resin Systems enters into license and supply agreement to introduce and supply its RStandard(TM) utility poles to Australia and New Zealand
Resin Systems enters into license and supply agreement to introduce and supply its RStandard(TM) utility poles to Australia and New Zealand.
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[{"type":"text","content":"\n\n\n\n\nEDMONTON, May 3 /CNW/ - Resin Systems Inc. (\"RSI\") (RS - TSX Venture /\nRSSYF - OTCBB), a composite materials products technology company, and its\noperating division, RS Technologies (\"RS\"), are pleased to announce that RSI\nhas entered into a license and supply agreement with Armor Utilities\nStructures Pty Limited (\"AUS\") of Sydney, Australia, to introduce and supply\nRStandard(TM) utility poles to Australia and New Zealand (the \"Territory\") on\nthe following terms:\n\n- RSI granted AUS a license to use RSI's technology for the manufacture\n and sale of RStandard(TM) utility poles in the Territory in\n consideration of a one time license fee payable upon commencement of\n the technology transfer and an ongoing royalty fee expressed as a\n percentage of gross sale amounts of RStandard(TM) utility poles made\n by AUS. The license is initially for a single production unit,\n comprised of two cells capable of producing 2,000 kilograms per hour\n of completed RStandard(TM) utility poles. RSI has agreed not to issue\n any additional licenses in the Territory for a three year period. RSI\n has agreed to provide AUS with an ongoing supply of its Version(TM)\n resin at its best pricing point to facilitate the manufacture of\n RStandard(TM) utility poles by AUS.\n\n- RSI granted AUS a non-assignable right for six years on an exclusive\n basis with respect to the Territory, to purchase RStandard(TM)\n utility poles from RSI and to represent, market, promote and sell\n RStandard(TM) utility poles in the Territory. In order for AUS to\n maintain exclusivity within the Territory, it must purchase or\n manufacture certain defined tonnages of RStandard(TM) utility poles\n within certain time frames.\n\nIt is anticipated that AUS's production facilities in Australia will be\noperational by the end of the fourth quarter in calendar 2006. Until AUS's\nproduction facilities are fully operational, all RStandard(TM) utility poles\nto be distributed in the Territory will be manufactured in RS's Alberta\nproduction facilities and shipped to AUS for distribution. RS has delivered\na demonstration shipment of RStandard(TM) utility poles to AUS in Australia\nand it is anticipated that the first full container load of RStandard(TM)\nutility poles will be shipped to AUS before the end of the third quarter in\ncalendar 2005.\nThe Austral...