NanoMask, Inc. Enters Into 5 Year $13 Million Distribution Pact With Tamayz Medical
3/30/2012 9:14:35 AM
FISHKILL, N.Y., March 29, 2012 /PRNewswire/ -- Nano Mask Inc., (NMI) (NANM.PK), a materials technology development company focused on health and wellness related markets, today announced that it has entered into a five year distribution agreement with Tamayz Medical, Inc. (the distributor), a Middle Eastern medical products distributor based in Riyadh, Saudi Arabia . Tamayz has agreed to purchase a minimum of $13,000,000 of various NMI healthcare products fabricated with X-Static® antimicrobial yarn over five years in exchange for exclusive distribution rights in the Middle East. The agreement has a five year renewal option.
This agreement is separate from a previous distribution agreement with Tamayz which called for the purchase of $ 2,300,000 in NMI products over four years. In total, agreements with the distributor call for the purchase of a minimum of $15,300,000 of NMI products within five years.
The agreement calls for NMI to supply to the following products: hospital and surgical scrubs, patient gowns and pajamas, bedding (sheets, pillows, covers and liners), blankets, window and cubicle curtains, as well as X-Static Silver yarn fabric. The territory governed by the agreement includes the following countries: Saudi Arabia, Egypt, Libya, Algeria, Morocco, Jordan, Iraq, Lebanon, Bahrain, Yemen, Kuwait, Oman, Qatar and United Arab Emirates.
"We have been working diligently with our Saudi partners to form this strategic relationship, by establishing not only an office in Saudi Arabia, but also facilitating the manufacture of our products in that country."
Mr. Suydam added, "We are confident that our partners will meet or exceed the minimum sales requirements outlined in our agreement, as evidenced by the significant orders from the Middle East that we have already received."
About Nano Mask
Nano Mask Inc. (NMI) is a materials technology development, manufacturing and distribution company providing emergency life support and infection prevention products and solutions to a variety of market segments within the healthcare industry.
This release may contain statements that are forward-looking. Such statements are made based upon current expectations that are subject to risk and uncertainty. Specifically, any unforeseen delays in manufacturing and distribution may affect the planned timeline for initiating actual sales of the product. NMI does not undertake to update forward-looking statements in this news release to reflect actual results of and changes in assumptions or changes in other factors affecting such forward-looking information. The actual future plans and results of the company could differ significantly from such forward-looking statements.
For further Information email:
Edward J. Suydam
President and CEO
Nano Mask Inc.
SOURCE Nano Mask Inc.
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