XPEL Signs Agreement For Middle East Product Distribution
XPEL SIGNS AGREEMENT FOR MIDDLE EAST PRODUCT DISTRIBUTION
– Kuwait, Saudi Arabia, Qatar, Oman and U.A.E.-
– Ideal Environment For Automotive Protection Products –
SAN ANTONIO, TEXAS, October 5, 2006…XPEL Technologies Corp. (TSXV: DAP.U) announced today that it has signed an Agency Agreement with Al-Katiba Al-Khadra Trading Co. (“AKAKTC”), for the purposes of AKAKTC establishing distribution and installation centers for XPEL Paint, Headlight and Window Tint products within the five Middle Eastern countries of Kuwait, Saudi Arabia, Qatar, Oman and U.A.E. Under the terms of the arrangement, AKAKTC has the option to secure market exclusivity on a country by country basis by delivering negotiated consideration to the Company, and must achieve certain annual levels of Design Access Program (“DAP”) revenue to maintain exclusivity status.
Bassam S. Al-Bassam, General Manager of AKAKTC, stated, “In studying the marketplace for automotive paint and headlight protection opportunities, we discovered there is really only one company that can meet our requirements, as well as those of our automotive clients, and that is XPEL Technologies Corp. Embracing the XPEL Protection System will help us deliver a formidable product set to the needs of the driving public, and will make overall implementation easier and market penetration much greater. Our Middle East customers and clients will no longer need to fear sand and rocks when they drive their vehicles on the open roads.”
W. Rege Brunner, XPEL’s Chairman and CEO, commented, “We are excited about this newly established relationship to accelerate our existing presence in the Middle East. With the region’s high heat and blowing sand conditions, the XPEL line of automotive protection products is an ideal solution. When you couple the solution with the marketing and distribution ‘know-how’ of such a well-respected group as Al-Katiba Al-Khadra Trading Co., you can expect nothing but success.”
XPEL Technologies Corp. (www.xpel.com), publicly traded on the TSXV Exchange, is the worldwide leader in the electronic delivery of top automotive aftermarket products, utilizing the Internet as an integral component for its design, manufacturing, distribution and customer relationship strategies. The Company’s DAP software utility offers Dealers the industry’s most efficient and productive tool set for better serving customers with “best of breed” solutions in real-time. XPEL has clear advantages over the competition through its proprietary corporate framework consisting of an expansive library of installation-friendly window tint, paint and headlight protection products, coupled with a unique web-based remote manufacturing and distribution software, superior installation training curriculum and facilities, and established and growing sales distribution channels.
The TSXV has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.
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