News Releases - Wednesday, June 14, 2000
BRANDED MARKET LEADER HYPERLITE H/O COMMITS TO BOTEX
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Botex Industries Corp. (the "Company") is pleased to announce the formation
of business relations with Hyperlite/HO, the global market share leader in
the Wakeboard and Waterski business (www.hyperlite.com). Operating out of
a large production facility in Seattle, Washington, and utilizing state of
the art machinery, they sell products under the "Hyperlite", "HO" and
"Jobe" brand names. Hyperlite H/O is a privately owned firm.
The global market for Wakeboarding and Water Skiing is over $130 million
US. Hyperlite/HO enjoys a leading position in the market.
In a major strategic move, Hyperlite/HO has decided to utilize Botex
material and technology to advance their bindings business. They have
currently placed orders on three products and have over 20 other projects
in R&D with Botex. Many of the products will be shipped in the third and
fourth quarters of this year with projections for a steady monthly flow of
orders.
"Botex allows us to introduce a new, technical product to the marketplace.
The ability to have multiple colors, densities and excellent tensile
strength was a major factor in our move to Botex", states Herb O'Brien, CEO
& President of Hyperlite/HO. He adds, "We have established an exclusive
supplier relationship with Botex for our range of products and we look
forward to the relationship growing in the future."
Botex President, Kevin Parkinson states, "We feel that the addition of
Hyperlite/HO is a major building block for our Company's future.
Hyperlite/HO is the major brand in a growing market segment, has an
excellent reputation, and is a large company. There are many products we
are working on and this will represent a consistent order flow for Botex.
This also represents a new product category for Botex, a key element of our
corporate strategy."
Production orders have begun in our Langley, B.C. facility and additional
orders will be online next week. Botex has committed to an exclusive
supply agreement for the bindings to Hyperlite/HO, and the companies will
continue to work closely on R & D projects. The exclusivity agreement has
a two-year term.
Botex is a proprietary material and process used to create rubber-like
products that offer the elasticity of rubber with superior abrasion and
anti-weathering characteristics. Botex can build multi-colored products of
single or multiple density. All colors and densities are chemically
bonded, resulting in a finished product which is both technically and
cosmetically superior to many rubber and urethane products. Botex material
is anti-bacterial, anti-fungal and U.V. stable. The Company currently
manufactures products for the shoe industry, water sports, sporting goods,
and industrial markets.
On Behalf of The Board of Directors
"Kevin Parkinson"
Kevin Parkinson, President
The Canadian Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this Release. |
