Captive Air signs multi-million dollar agreement.CALGARY, Alberta--(BUSINESS WIRE)--Nov. 30, 1994--Captive Air International Inc., of Calgary, Alberta is pleased to announce that it has entered into an agreement with PREMIERE Unlimited of Provo, Utah to market Captive Air's unique brand of microcellular polyurethane polyurethane Any of a class of very versatile polymers that are made into flexible and rigid foams, fibres, elastomers (elastic polymers), surface coatings, and adhesives. bicycle tires. The principals of PREMIERE are the founders of a high-tech company with a market cap of over three billion dollars U.S. It is conservatively estimated that this Agreement will generate sales for Captive Air of approximately $2.5 million in the first year and sales of $5.8 million in the second year. It is anticipated that sales volume will grow substantially every year as sales increase not only in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , but also worldwide. This represents a new market segment for Captive Air, the worldwide size of which is in the hundreds of millions of dollars. For instance, approximately 100 million bicycle tires are consumed in the U.S. annually. Captive Air has been in business for more than seven years and for the fiscal year ended Jan. 31, 1994, had revenues - contract fees and tire sales - of just under two million dollars. Overall, tire sales are growing and will keep on growing due to contracts previously signed and from new customers resulting from increasing custoer acceptance and the Company's aggressive marketing efforts. Captive Air manufacturers tires which are flat-proof, maintenance- free, wear-resistant and multicoloured. From its plants in Saskatoon Saskatoon (săskət  n`), city (1991 pop. 186,058), S central Sask., Canada, on the South Saskatchewan River. and Oceanside, Calif., the company has been manufacturing its unique patented tire products for a wide variety of off-highway markets, including recreational, lawn and garden, materials handling Materials handlingThe loading, moving, and unloading of materials. The hundreds of different ways of handling materials are generally classified according to the type of equipment used. , wheelchair and specialty industrial applications. The president, on behalf of the board of directors, has prepared this news release and accepts responsibility for its contents. The Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). has neither approved nor disapproved the information contained herein. Captive Air International Inc. is traded on The Alberta Stock Exchange under the symbol CQE CQE Certified Quality Engineer CQE Customer Quality Engineer CQE Cognizant Quality Engineer CQE Complex Query Expression and on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Electronic Bulletin Board under the symbol CVAIF. For further information, contact Don Dean, President, or Kuldip Baid, Vice President Finance, Captive Air International Inc. at 403/233-0468. CONTACT: Captive Air International Inc., Calgary Don Dean or Kuldip Baid, 403/233-0468 |
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