Newsletter #185 (View other news stories)
Airtrax closes long-term distribution agreement
HAMMONTON, NJ, United States
Thursday, 25 Nov 2004
Airtrax has entered into a five-year international distribution agreement with EMCON General Trading LLC in Dubai, United Arab Emirates, for the purchase of three Sidewinder Omni-Directional Lift Trucks.
The agreement is effective until 2009, at which time it can be automatically renewed for three more years. The yearly sales requirement for EMCON’s elected area of primary responsibility is the countries of United Arab Emirates, Qatar and Bahrain. According to the agreement, EMCON will use Airtrax’s Sidewinders for demonstration purposes and to promote the sale of Sidewinders throughout the area.
Airtrax president Peter Amico said the agreement was "a testament" to the Airtrax product.
"Deemed a ‘disruptive technology,’ our omni-directional vehicles offer one of the world’s most innovative alternatives to existing forklift options," he said. "Through demonstrating our product, potential users and purchasers can experience unprecedented manoeuvrability and increased usage of warehouse space."
The EMCON agreement would see immediate sales of about USD120,000 and potential recurring sales of USD2 million or more beginning in 2005.
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