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Article: GelTech Solutions Announces the Signing of a Ten-Year, $32 Million, Exclusive Distribution Contract for its FireIce Product in China and Taiwan.
- Article from:
- PR Newswire
- Article date:
- September 21, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Requires Minimum Average Purchase Commitment of $268,800 per Month to Retain Exclusivity
JUPITER, FL, Sept. 21 /PRNewswire-FirstCall/ -- GelTech Solutions, Inc. (OTCBB: GLTC) is pleased to announce that it has entered into a 10-year agreement for large scale distribution of its patented fire suppressant, FireIce, in China and Taiwan. In order to maintain exclusivity, the distributor must make an average purchase commitment of $268,000 of FireIce per month which further equates to $3,225,600 per year and $32,256,000 over 10 years.
Joe Ingarra, President of GelTech Solutions, stated, "This is a major milestone for GelTech and continues to validate FireIce ...
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