Agreement renewal confirms the Company's status as a major supplier to
Canadian retailers
MONTREAL, April 3 /CNW Telbec/ - Mr. Marc Leblanc, President and Chief Executive Officer of Komet Manufacturers Inc., "Komet" (TSX-V: AQD), is pleased to announce that the Company has come to a new agreement with Rona and its banner Reno-Depot, two major players in the Canadian retail market. With an estimated value of $5.2 million recurring annually, the agreement allows the partners to continue their business relationship until at least the beginning of 2009.
"The fact that a company with Rona's national presence reaffirms its confidence in us naturally makes us optimistic and enthusiastic about Komet's future, especially regarding our expansion outside of Quebec. In our opinion, this level of recognition is the best proof of the excellent quality price ratio offered by our line of furniture," said Mr. Leblanc, the Company's president.
According to the terms of the agreement, Komet's vast range of pre-assembled and ready-to-assemble bathroom products, sold under the Aquadis brand, will continue to be available in all of Rona's main branches and at its Reno-Depot banner locations. A minimum of more than one hundred branches across Canada will carry the products.
Listed on the TSX Venture Exchange since June 2007, Komet is currently expanding its presence in markets within and outside of Quebec. In addition to this agreement with Rona, the Company recently announced a partnership agreement with superstore retailer Home Depot. Valued at $2.5 million annually, this agreement will enable Komet to supply more than 100 Home Depot branches across the country.
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. Thanks to its preferred access to numerous Asian suppliers, the Company is able to offer its complete product line at competitive pricing. Komet's furniture selection includes vanities, mirrors, medicine cabinets and linen cabinets, which are all available in several colours and models, allowing clients to personalize the collections.
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adequacy or accuracy of this release.
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