Ironclad Performance Wear Announces Major Expansion into Central and South America
FARMERS BRANCH, Texas, Jan. 9, 2017 /PRNewswire/ -- Ironclad Performance Wear Corporation (OTCQB: ICPW), and Glenfir Corporation, a division of Kapern Corporation, announced today that they have entered into a five-year, exclusive distribution agreement to distribute Ironclad products in the territories of Central and South America.
Ironclad Performance Wear, located in Farmers Branch, Texas, is a global leader in safety and performance hand wear. Glenfir Corporation is a division of Kapern Corporation, a South American multi-national business with interests in quarry exploration, survey engineering, heavy machinery and industrial safety. Kapern is a long-time and respected leader in the sale and distribution of personal protective equipment (PPE) across all of Central and South America. Glenfir has more than 45 partners and sales agents in 18 countries throughout Central and South America. As part of the agreement, in return for certain exclusive distribution rights, Glenfir agreed to a series of escalating annual purchase commitments, the total value of which is in excess of U.S. $10.0 million over the five-year contract period.
"We are very pleased to have Glenfir as our newest distribution partner, expanding our presence throughout Central and South America," commented Mike Emslie, SVP International Sales for Ironclad. "Glenfir's recognized expertise in PPE and their broad distribution in this region of the world further validates our brands, products and global footprint."
"We are excited about this new opportunity to represent and distribute the Ironclad portfolio of products in Central and South America. We see a significant opportunity for growth for both companies working together," commented Adolpho Goncalves Staehle, CCO of the PPE division of Glenfir. "For more than 10 years, our company has been a leader in safety and performance personal protective equipment (PPE)," commented Pedro Pereira, Director of Glenfir. "Having the opportunity to distribute products from Ironclad, one of the foremost innovators and leaders in technology, engineering and design of gloves and PPE puts us in a great position to satisfy our customers' strong demand for these products."
About Ironclad Performance Wear Corporation
Ironclad Performance Wear is a brand leader in technical, task-specific, performance work gloves, having created the performance work glove category in 1998. The Company continues to leverage its leadership position in the safety, construction and industrial markets through the design, development and distribution of specialized task-specific gloves for numerous industries, including oil & gas exploration, automotive, construction, as well as police, fire, first-responder and military. Ironclad engineers and manufactures its products with a focus on innovation, design, advanced material science and durability. Ironclad's gloves are available through industrial suppliers, hardware stores, home centers, lumber yards and sporting goods retailers nationwide, and through authorized distributors.
Information about Forward-Looking Statements
This release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: the absence of purchasing commitments in our agreement with Glenfir, fluctuations in demand for Ironclad's products, the introduction of new products, Ironclad's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of Ironclad's liquidity and financial strength to support its growth and other information that may be detailed from time-to-time in Ironclad's filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include statements regarding customer growth and positive impacts on our company. For a more detailed description of the risk factors and uncertainties affecting Ironclad, please refer to the Company's recent Securities and Exchange Commission filings, which are available at www.sec.gov. Ironclad undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For more information on Ironclad, please visit www.ironclad.com.
William Aisenberg, CFO
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