JER Envirotech Signs Exclusive Supply Agreement With Sprig Toys, Inc.
Vancouver, B.C., April 14, 2008 - JER Envirotech International Corp. (TSX Venture: JER; Frankfurt Stock Exchange: KFTB) is pleased to announce the signing of a four-year exclusive supply agreement with Sprig Toys, Inc. ("Sprig"), a socially responsible toy manufacturer headquartered in Fort Collins, Colorado (www.sprigtoys.com).
Under the terms of the agreement, JER will provide certain price considerations and exclusivity in the North American and European market for preschool toys in return for Sprig Toys achieving certain raw material volume commitments.
In addition, JER will act as the exclusive supplier of thermoplastic biocomposite material to Sprig for the term of the agreement and Sprig has agreed to provide secondary branding on all of its products and packaging, identifying JER as the co-developer and supplier of the custom thermoplastic biocomposite marketed as Sprigwood(tm).
"We have received an overwhelming response to Sprigwood(tm) biocomposite material," states Craig Storey, CEO of Sprig. "It is a fantastic element of our environmentally friendly, child safe, active play preschool toys and we will be introducing more products in 2009 that feature Sprigwood(tm) material."
"JER is pleased to have this supply partnership in place with Sprig," states Ed Trueman, CEO of JER. Sprig's brand and products are outstanding and unlike anything else on the market". New forecasts indicate that JER will be required to supply up to 1.5M pounds of Sprigwood(tm) compound to meet Sprig's production requirements for calendar 2008 alone.
Sprigwood(tm) is a JERtech(tm) thermoplastic biocomposite proudly custom-engineered for the child-friendly Sprig experience. An innovation developed in a collaboration between JER Envirotech Limited and Canada`s National Research Council, JERtech(tm) thermoplastic biocomposites are eco-friendly and non-toxic materials manufactured in North America.
ABOUT SPRIG TOYS, INC.
Founded in 2007, Sprig Toys, Inc. is an innovative and socially responsible toy company based in Fort Collins, Colorado. Inspired by their collective desire to keep kids active and the planet healthy, the Sprig team is dedicated to incorporating creativity, smart design, quality manufacturing, earth-friendly materials, product satisfaction and responsible business practices into a superior line of fun, kid-powered toys. All Sprig products are made in Canada. For more information, please visit www.sprigtoys.com.
ABOUT JER ENVIROTECH INTERNATIONAL CORPORATION
JER is a global manufacturer of thermoplastic biocomposite compounds and sheeting. The Company's patented technology utilizes waste or by-product materials, such as wood fibre or rice hulls, to produce environmentally-friendly alternative products for applications in the construction, transport, automotive and toy industries. The Company currently has a range of biocomposite formulations which it developed in collaboration with the National Research Council - Industrial Materials Institute of Canada.
JER currently has manufacturing operations in Canada, Malaysia and the Philippines. The Company is publicly-traded on the TSX Venture Exchange (TSX) under the symbol "JER" and on the Frankfurt Stock Exchange under the symbol "KFTB". |
