Surface Transforms signs Distribution Agreement
3 March 2011
Surface Transforms plc
("Surface Transforms" or the "Company")
Surface Transforms signs Distribution Agreement with Mov'It International
Surface Transforms plc, manufacturers of carbon fibre reinforced ceramic materials, is pleased to announce the signing of a long term distribution agreement with Mov'It International ("Mov'It").
Under the terms of the agreement, Mov'It is appointed as the Company's exclusive distributor for the promotion and sale of high performance carbon ceramic disc brake products in the after market for road cars within most countries in Europe but excluding the UK. The agreement, effective 2 March 2011 through to 31 December 2014 contains a minimum guaranteed order quantity during the contract term, equivalent to sales of approximately €3.1 million.
Commenting, Kevin Johnson, CEO said:
"We are delighted to sign this agreement which further cements the relationship between Surface Transforms and Mov'It International and which represents an important milestone in the continued development of the Company."
For enquiries, please contact:
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Surface Transforms plc |
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Kevin Johnson |
0151 356 2141 |
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Kevin D'Silva |
07802 306 956 |
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Seymour Pierce Limited (Nomad & Broker) |
020 7107 8000 |
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Guy Peters / David Foreman - Corporate Finance |
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Paul Jewell / David Banks - Corporate Broking |
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For further Company details visit www.surface-transforms.com
About Mov'It
Mov'It is a global supplier of high performance braking systems to the European performance car market for use both on road and race track applications. It is headquartered near Baden Baden, Germany and since January 2010 has been 50% owned by Genii Capital of Luxembourg. Genii Capital is a well known European private equity company with a number of interests in automotive businesses and this includes the ownership of the Formula One Lotus-Renault group based in the UK.
This information is provided by RNS