GumTech signs Norwegian distribution agreement.PHOENIX--(BUSINESS WIRE)--Sept. 24, 1996--GumTech International Inc. (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 :GUMM GUMM Gurus of UNIX Meeting of Minds ) Tuesday announced it has reached an exclusive agreement worth a minimum of $800,000 with Elspar Norge a.s. for distribution of GumTech chewing gum chewing gum, confection consisting usually of chicle, flavorings, and corn syrup and sugar (or artificial sweeteners). Prehistoric people are believed to have chewed resins. products in Norway. Elspar will purchase $300,000 in these products for the remainder of 1996 and a minimum of $500,000 in 1997. In return GumTech will supply three therapeutic chewing gum products, ChromaTrimO, CitrusSlimO and Jack LaLanne's Ginseng ginseng (jĭn`sĕng), common name for the Araliaceae, a family of tropical herbs, shrubs, and trees that are often prickly and sometimes grow as climbing forms. . These products have been approved by the Norwegian health ministry. GumTech will supply more brands as the Norwegian government approves them. Elspar is a supplier for Norges Gruppen, a chain that reaches major portions of the Norwegian consumer product market through 2,500 outlets and 900 Shell and Esso Food/Express shops. Elspar also acts as a distributor for Daewoo of Korea and Peacock peacock or peafowl, large bird of the genus Pavo, in the pheasant family, native to E Asia. There are two main species, the common (Pavo cristatus), and the Javanese (P. AG and Schneider of Germany. "This is a significant step forward for GumTech in the international market," said Jerry Kern Kern, river, 155 mi (249 km) long, rising in the S Sierra Nevada Mts., E Calif., and flowing south, then southwest to a reservoir in the extreme southern part of the San Joaquin valley. The river has Isabella Dam as its chief facility. , president and chief executive officer. "In less than three months we've signed major manufacturing and distribution agreements for Japan and Norway. We believe there's tremendous potential for foreign growth in branded sales and contract manufacturing, and we're pursuing both aggressively." Kern said GumTech was negotiating with a Swedish company for similar distribution in Sweden and Finland. Two Japanese firms, the Shisei Medicine Company Ltd. of Yokohama and the Toho company of Tokyo, began distributing GumTech products in their country in July. Kern noted that Elspar has signed Bjorn Dali, a world champion Norwegian cross-country skier, to support a large-scale advertising and marketing campaign. The promotion is scheduled to coincide with a major cross-country skiing cross-country skiing Skiing in open country over rolling, hilly terrain. It originated in Scandinavia as a means of travel as well as recreation. The skies used are longer, narrower, and lighter than those used in Alpine skiing, and bindings allow more heel movement. competition in Norway in December. "Cross country skiing is to Norway what baseball is to America," Kern said. "Every Norwegian knows of Bjorn Dali." GumTech distributes its products to more than 75 percent of the nation's top drugstore chains, including Walgreens, Osco, Thrifty thrifty said of livestock that put on body weight or produce in other ways with a minimum of feed. The opposite of illthrift. , Sav-on and Payless, where it is steadily increasing sales. The company also enjoys a strong nationwide position in convenience-store chains and health food stores and has entered major supermarket chains. In addition, GumTech is increasing distribution and further expanding its presence in international markets, including Europe and the Far East. CONTACT: GumTech International Inc., Phoenix Jerry Kern, 602/277-0606 or Financial Relations Board, 310/442-0599 Tom Ekman (analyst contact) Art Bentley (general information) Steven Seiler (media contact) |
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