Xcelplus Signs First Major Export Distribution Agreement in Thailand
SALUDA, Va.--(BUSINESS WIRE)--Feb. 10, 2005--Xcelplus International Inc (PINK SHEETS: XLPI), Xcelplus International (http://xcelplus.com) announced today that a contract for distribution for Thailand, The Philippines, Malaysia and Indonesia for the Xcelplus line of products has been signed. GFRS Inc. of Thailand is the distributor that seeks to move the Xcelplus line of proprietary PfL products into these areas through existing distribution systems they have in place. This market can explode as they are looking to expand rapidly through promotions for the motorcycle markets and have already hired the leading motorcycle racer for the Pacific Rim as the spokesperson and promoter of the products to motorcycle owners.
The distribution agreement calls for sales in the first year of $1.5 million US and $3.5 million in year two as a base to keep the distribution contract. Considering that Xcelplus has not until now had any significant revenues to speak of, this represents an increase just in year one of almost 5000%.
Meetings while in Thailand led to the introduction of the Xcelplus line of products to one of GFRS's principle distributors, ItalThai, a major contracting, distributing and engineering entity in Thailand with sales annually in excess of $1 billion. This company can add substantiation to the product line and carry it into many areas in addition to those GFRS is looking to penetrate.
We anticipate great things coming out of Thailand over the upcoming years.
A trip to China is planned for late Feb or early March to secure distribution into China for this year as well.
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