Alloy Steel and PT United Tractors sign distribution deal
Friday, May 19 2006 - 12:44 AM WIB
Australian firm Alloy Steel International Inc. said on Thursday it has signed an MoU for a non-exclusive distribution agreement with Indonesian heavy equipment seller PT United Tractors Tbk (UT).
UT will guarantee to purchase a minimum of USD $2 million of Alloy Steel's ArcoPlate(TM) products in the first year increasing to USD $3 million in the second year.
United Tractors will be granted the distribution rights for the geographical territory of Indonesia. Alloy Steel will maintain the direct supply rights to two Indonesian equipment manufacturers. Further years are to be agreed upon as per conditions of a full distribution agreement.
Alloy Steel International makes engineering and wear resistant materials used in the mining, mineral processing and construction industries. (alex)