MILWAUKEE, Wis. -- Thomas Equipment Inc. (OTCBB:TEQI
- News) announced that its Samsung Division ("SSI") has received
an exclusive distribution agreement for Korea with W.L. Gore Corporation
("Gore") for Gores' polytetrafluoroethylene products sealants
and Gland Packing Material.
Thomas President and CEO Clifford Rhee said, "SSI
has been a market leader in the supply of metal gaskets and sealant products
for over 20 years. This agreement with Gore, a leading materials manufacturer,
reaffirms SSI's strategic market position and industry leading capabilities."
"We are very gratified to represent Gore exclusively
in Korea and Asia at large. With this strategic relationship, we expect
significant growth in sealant and gland packing sales to major customers
in Asia," said Lim Chul Jin, President of Samsung Industry Co., Ltd.
"We anticipate this exclusive distribution agreement will generate
annual revenues of US$12.5 Million."
Gore is a leading manufacturer of thousands of advanced
technology products for the electronics, industrial, fabrics and medical
markets. Gore is a global leading manufacturer of fluoropolymer products.
Gore is known worldwide for its Gore-Tex(TM) material. Gore's annual revenue
exceeds $1.35 billion and has been named on of the '100 Best Companies
to Work for in America.' by Fortune magazine.
About Thomas Equipment Inc. ("TEQI"): Thomas
Equipment Inc., and its subsidiaries including Pneutech Inc., Rousseau
Controls Inc., Samsung Industry Co. Ltd., and Hydramen Fluid Power Limited:
Thomas is an innovative and technologically advanced global manufacturer
of a full line of skid steer and mini skid steer loaders as well as attachments,
mobile screening plants and six models of mini excavators. Thomas distributes
its products through a worldwide network of distributors and wholesalers.
In addition, Thomas' wholly owned subsidiaries manufacture specialty industrial
and construction products, a complete line of potato harvesting and handling
equipment, fluid power components, pneumatic and hydraulic systems, spiral
wound metal gaskets, and packing material.
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Litigation Act of 1995 - With the exception of historical information,
the matters discussed in this press release are forward-looking statements
that involve a number of risks and uncertainties. The actual future results
of TEQI could differ significantly from those statements. Factors that
could cause actual results to differ materially include risks and uncertainties
such as the inability to finance the company's operations or expansion,
inability to hire and retain qualified personnel, changes in the general
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"expect," "plan," "anticipate," "believe,"
"estimate," "predict," "potential" or "continue,"
the negative of such terms, or other comparable terminology. These statements
are only predictions. Although we believe that the expectations reflected
in the forward-looking statements are reasonable, such statements should
not be regarded as a representation by the Company, or any other person,
that such forward-looking statements will be achieved. We undertake no
duty to update any of the forward-looking statements, whether as a result
of new information, future events or otherwise. In light of the foregoing,
readers are cautioned not to place undue reliance on such forward-looking
statements. For further risk factors see the risk factors associated with
our Company, review our SEC filings.
Source: Thomas Equipment