Saudi Arabian Super Distribution Signed and Confirmed
28 Agosto 2007 - 1:59PM
PR Newswire (US)
PARIS, August 28 /PRNewswire-FirstCall/ -- Falken Industries Ltd -
Clean Plus(R) Product Group today announced the confirmed signing
of a Saudi Arabian Super Distributor for their Clean Plus(R)
Premium auto care line. The signed agreement stipulates a committed
annual product purchase of 390.000 EUR ($ 521,000) for five years.
The aggregate sum of this agreement is 1,950,000 EUR ($ 2,605,000).
Falken Industries initially established a stand-by agreement with
this major Saudi Arabian distributor in March. As expected,
enthusiastic reactions over Clean Plus(R) products have led to this
confirmed business partnership and Super Distribution signing. New
Business Development and Sales Officer Michael Hamilton commented,
"Saudi Arabia is a viable and prospering market and we are
confident in our Super Distributor's ability to acquire a
significant market share." The newly signed Super Distributor
added, "We can confidently project a Clean Plus(R) presence in all
of Saudi Arabia by the end of November." Widely known as the
world's leading petroleum exporter, a large percentage of the Saudi
Arabian population is prosperous, with households often owning
several cars. These affluent families demand high-quality products
and the Clean Plus(R) established reputation for excellence will
bode very well in the market. Additionally, a European auto care
line has greater appeal with cosmopolitan consumers. The Super
Distributor's decision to introduce Clean Plus(R) principally in
Saudi Arabia stems from the country's position as the Middle
Eastern epicenter, due to its oil exports, foreign trade, and media
centers. Ambitious projects, such King Abdullah's Economic City (a
($26.6 Billion USD project that broke ground late 2005), will
continue to reaffirm their position as economic leaders. The Super
Distributor aims to penetrate the surrounding markets once a
significant presence has been established in Saudi Arabia. Falken
Industries currently has a stand-by agreement for their Clean
Plus(R) Professional Auto Care line with this same distributor and
are in negotiations to distribute their industrial cleaning line as
well. "We are excited about this new partnership and look forward
to introducing Clean Plus(R) products to all Middle Eastern
markets," Helle Madso, Executive Vice President- Europe. About
Falken Industries Ltd: Falken Industries Ltd. (OTC:FLKI), a New
Jersey corporation (USA), is a leading developer, manufacturer, and
marketer of innovative wet wipe products with 80,000 square feet
production facilities in France. Its core product group is the
leading Clean Plus(R) brand of high performance products -
http://www.cleanplus.com/. For further information on the company,
interested parties may also visit http://www.falkenltd.com/.
Disclosure: This press release includes statements that may
constitute "forward-looking" statements, usually containing the
words "believe", "estimate", "project", "expect" or similar
expressions. These statements are made, to the extent relevant,
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements
inherently involve risks and uncertainties that could cause actual
results to differ materially from the forward-looking statements.
Factors that would cause or contribute to such differences include,
but are not limited to, acceptance of the Company's current and
future products and services in the marketplace, the ability of the
Company to develop effective new products and receive regulatory
approvals of such products, competitive factors, dependence upon
third-party vendors, and other risks. By making these
forward-looking statements, the Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release. Contact: E. David Gouiran Investor Relations Falken
Industries Ltd. 146, rue du Chateau Paris 75014 FRANCE Tel.
+33-(0)1-45-42-19-16 Email: DATASOURCE: Falken Industries Ltd.
CONTACT: Contact: E. David Gouiran, Investor Relations, Falken
Industries Ltd., 146, rue du Chateau, Paris 75014 FRANCE, Tel.
+33-(0)1-45-42-19-16, Email:
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