Mr. John Babic reports
REEFLEX SOLUTIONS INC. ANNOUNCES EXCLUSIVE DISTRIBUTION AGREEMENT IN SOUTH AMERICA
Reeflex Solutions Inc.'s wholly owned subsidiary, Coil Solutions Inc. (CSI), has entered into an exclusive distribution agreement with Roch IB Corp., pursuant to which Roch IB has been appointed the exclusive distributor of CSI's products in South America.
Under the terms of the agreement, CSI has granted Roch IB the exclusive right to market and sell CSI's down hole tools, coiled tubing injectors, associated equipment and mobile coiled tubing units in the territory. The agreement has an initial term of 12 months and will automatically renew for successive 24-month periods unless terminated by either party with 60 days of notice.
The agreement does not contain minimum purchase obligations. Products will be supplied on CSI's standard terms of sale, with full payment required prior to release from CSI's facility in Alberta, Canada.
"This agreement provides CSI with a defined partner to expand its reach into South America while maintaining our established manufacturing and technical support base in Canada," said John Babic, president and chief executive officer of Reeflex.
Either party may terminate the agreement in accordance with its terms, including for breach, insolvency or regulatory compliance matters. The distributor is not entitled to compensation upon termination.
About Reeflex Solutions Inc.
Reeflex is a public company delivering advanced engineering and manufacturing solutions across various industry sectors. Through the company's wholly owned subsidiary, Coil Solutions Inc., the company provides coil tubing injectors and down hole tools for the oil and gas sector. The company's manufacturing division, Ranglar Manufacturing, specializes in custom-designed mobile equipment for a wide range of industrial applications.
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