Article: Windmere-Durable Holdings' Joint Venture, New M-Tech, Signs Admiral Distribution Agreement

MIAMI LAKES, Fla., April 1 /PRNewswire/ -- Windmere-Durable Holdings, Inc., (NYSE: WND) today announced that New M-Tech Corporation, a company that is 50% owned by Windmere-Durable Holdings, has signed a seven-year agreement that names Miami-based AAAA World Import Export, Inc., as the exclusive distributor of New M-Tech's Admiral line of consumer electronic products in South America. The guaranteed minimum purchase amount under this agreement is $106 million.

"This agreement, which could be extended through the year 2013, fits very well with our strategic growth objectives," stated Joel Newman, New M-Tech's Chairman, President and Chief Executive Officer. ...

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