The agreement will allow this Quebec Company's products to be offered in
more than 400 of the international retail giant's branches
MONTREAL, Aug. 20 /CNW Telbec/ - Mr. Francois Nadeau, Interim President and Chief Executive Officer of Komet Manufacturers Inc. "Komet," (TSX-V: AQD), is pleased to announce that the Company has concluded an agreement with international retailer Wal-Mart. The minimum one-year agreement will allow Komet to sell its range of products to more than 400 points of sale belonging to the global giant across the country. In addition, it will also be possible for the two parties to renew the terms of the agreement. This agreement is estimated to be worth several hundred thousand dollars for the current year.
"Clearly, working with a retailer of Wal-Mart's size and strength shows that Komet is achieving its pan-Canadian objectives and that its products are exportable. Despite the slowdown in retail sales across the country, we are enjoying success. This is especially thanks to major agreements made with retail giants such as Wal-Mart," said the Company's President, Francois Nadeau.
Distributed under the brand name Aquadis, complete kits, which include a vanity, sink and tap, will be available at Wal-Mart stores in every Canadian province. In addition to this agreement with Wal-Mart, the Company has recently announced several business partnerships with other major retailers, including The Home Depot, Rona and Reno-Depot. The total value of these contracts amounts to more than ten million dollars.
"We are highly enthusiastic about Komet's future and are continuing our development efforts following our planned growth strategy. This new agreement is perfectly in line with this strategy," said Marc Nadeau, Vice-President of the Company.
About Komet
Komet, a Quebec corporation headquartered in Blainville, has been listed on the TSX Venture Exchange since 2007. The Company specializes in designing and manufacturing bathroom furniture products, which are marketed under the Aquadis brand name. Since the Company's launch, Komet has rapidly enjoyed success in the home improvement market due to the quality, affordability and ease-of-assembly of its wide range of bathroom furniture products. In Canada, Komet's market presence is assured by the distribution of its products in multiple superstore outlets across the country, notably Rona, Reno-Depot, Canadian Tire and Home Depot. Komet's furniture selection includes vanities, medicine cabinets, linen cabinets and mirrors. These are all available in several colours and models to which porcelain sinks and taps can be added to provide a complete kit. Thanks to its preferred access to numerous Asian suppliers, the Company is able to offer its complete product line at competitive pricing.
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