Komet and Rona end their business relationship
New partnership agreements signed with other kitchen cabinet manufacturers will partially offset this loss and allow Komet to look optimistically to the future
MONTREAL, Nov. 10 /CNW Telbec/ - Komet Manufacturers Inc. ("Komet" TSX-V: AQD) has announced the end of its business partnership with Rona, including the Réno-Dépôt banner, for the manufacture of bathroom furniture. The agreement in question, signed over five years ago, represented 38% of Komet's sales.
"While it's difficult to quickly replace a big client like Rona, we are happy to announce to our clients and shareholders that Komet is already positioned as a new leader in kitchen cabinet manufacturing. As such we have signed new agreements with leading contractors like Samcon, Les entreprises Samig, and Habitations Voyer. These will gradually replace the agreement with Rona, allowing us to continue our operations with the optimism and enthusiasm Komet is known for," said company president and CEO François Nadeau.
About Komet Located in Blainville, Quebec, Komet has been listed on the TSX Venture Exchange since June 2007. The company specializes in the design and manufacture of bathroom furniture marketed under the Aquadis brand and is increasingly manufacturing kitchen cabinets for builders and individual customers. Since its creation, Komet has been tremendously successful in the residential renovation market thanks to the quality, low prices, and easy assembly of its wide range of bathroom furniture—features it has carried over into its kitchen product line. Komet's furniture selection includes mirrors, vanities, medicine cabinets, and linen storage units, all available in a variety of colors and models for easy customization. Its kitchen furniture collections are also offered in a range of customizable options.
*The TSX Venture Exchange has not approved and accepts no responsibility for the authenticity or accuracy of the information contained in this press release.
For further information: <p>Frédéric Bérard,<br/> Special Advisor<br/> HKDP Communications and Public Affairs<br/> 514-395-0375, extension 259<br/> <a href="mailto:email@example.com">firstname.lastname@example.org</a></p>
CO: KOMET MANUFACTURING INC. ST: Quebec NI: RET MNA ORDER -0- Nov/10/2010 21:50 GMT