HARRINGTON GROUP LIMITED 2003-02-21 ASX-SIGNAL-G
HOMEX - Sydney
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The Directors of Harrington Group Limited are pleased to announce
that they are currently in negotiation with Primex Group Limited Hong
Kong for the exclusive commercial distribution rights of its energy
saving products.
Harrington has a ninety day option to complete its investigations and
due diligence and finalise the terms of the Agreement. The market
will be kept informed as soon as negotiations are completed.
Primex Group Limited has developed an award winning and patented
consumer electrical product range particularly its Luxlite brand of
energy saving bulbs. Harrington's agreement will give it the
exclusive distribution rights for all Primex products in Australasia
and Oceania.
The Primex Group Limited has become a market leader in the supply of
branded and non-branded consumer and industrial lighting products.
Their products are distributed in 74 countries including the USA and
Europe. The company started manufacturing its products in 1995 and
now employs more than 500 people worldwide and last year its sales
exceeded US$90m.
Products produced by Primex encompass energy efficient lighting
products. These energy saving products have allowed power suppliers
to contract to consumers as a significant green energy provider and
in many instances they run promotional sales campaigns based upon
this characteristic.
Its products have been approved by the USA Department of Energy
"Energy Star Program" and are now distributed by major retailers,
wholesalers and hardware stores. Sales into North America, which is
presently the largest market, last year amounted to US$55m.
Primex provided the key lighting display for an illuminated Olympic
Ring Logo for the Salt Lake City Winter Olympic Games in 2002. This
was the largest and most energy efficient outdoor lighting display
that has ever been constructed.
Exclusive access to the Primex Group Limited product range, including
new and developing products, will provide Harrington Group Limited
with a range of innovative consumer electrical products. Harrington
Group Limited plan to be actively involved in the development and
commercialisation of new innovative products to service market needs
for energy efficient and environmentally friendly consumer products
and will utilise sales techniques to increase the market share
presently held.
Further information relating to the Primex range of products may be
accessed from the website www.luxlite.com.
Mr William Tien, a recently appointed director of Harrington Group
Limited, has introduced this opportunity to Harrington. He has
developed the relationship with Primex Group Limited over the past 12
years.
Mr Tien may be contacted directly for further information on 0439 360
228.
HGR
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