Pacer Technology Obtains Exclusive Marketing Rights for Pro-Tel Products
RANCHO CUCAMONGA, Calif., June 6 /PRNewswire/ -- Pacer Technology, (Nasdaq: PTCH) announced today that it has obtained, from Pro-Tel Products, Inc. of Santa Monica, California, the exclusive right, during the next five years, to market and sell the Bondini family of adhesive products, which includes Bondini 2 and Bondini Everything Gel. Bondini is known as "Bondini the Magic Glue" because of its ability to instantly bond virtually all surfaces. The Bondini family of products is currently sold at Wal-Mart, K-Mart, Sears-Orchard Supply, and other retail outlets.
Under its Agreement with Pro-Tel, which became effective on June 1, 2000, Pacer will pay royalties to Pro-Tel Products based on its sales of the Bondini products, subject to certain required minimum monthly royalties. At the end of the five year term of the agreement, Pacer will be entitled to acquire ownership of these marketing rights.
W. Thomas Nightingale, III, President and Chief Executive Officer of Pacer stated, "The acquisition of the Bondini products broadens our retail presence by adding new retail customers and outlets. We intend to increase the number of items in the Bondini product line and introduce some of them at the National Hardware Show in August. We look forward to building a mutually beneficial partnership with our new customers."
Statements contained in the press release, which are not historical facts, are forward-looking statements. Such forward-looking statements are necessary estimates regarding the best judgment of the party making such statements based upon current information and involve a number of risks and uncertainties. Forward-looking statements contained in this press release or in other public statements of the parties should be considered in light of those factors. Such factors are set forth in the Company's periodic reports filed with the Securities and Exchange Commission. There can be no assurances that such factors or other factors will not affect the accuracy of such forward-looking statements.
Pacer Technology is a world-class manufacturer, packaging and distribution company engaged in marketing advanced technology adhesives, sealants, and related products, as well as manicure implements for consumer markets on a worldwide basis. It is the provider of SUPER GLUE(R), ZAP(R), PRO SEAL(R), Cook Bates(R), Diamon Deb(R)/Kurlash(R) and Gem(R), and other well known branded products.
SOURCE Pacer Technology
CO: Pacer Technology; Pro-Tel Products, Inc.
ST: California
IN: CHM
SU:
06/06/2000 17:11 EDT prnewswire.com |
