Aqua Bio Technology has signed a distribution agreement with a new partner in the Middle East
April 19 2018 - 8:29AM
Aqua Bio Technology ASA (ABT) has signed an
agreement with Al Hafez Trading Est. (Al Hafez), which gives Al
Hafez exclusive rights to the distribution of ABT's exclusive skin
care series Moana Skincare in Kuwait. The agreement applies to
seven products, with the possibility of expanding to more products
and markets.
The agreement implies an exclusive right to
market, distribute and sell the relevant products to consumers and
professional users, as well as all retail outlets, skin care
clinics etc., which Al Hafez, in collaboration with ABT, considers
to be best suitable to present the products to consumers.
Initially, the agreement applies for 2.5 years, with the right to
extension if common expectations of the agreement are met.
"Kuwait is an exciting market in an
attractive region, and we are very pleased to have established a
local and competent partner in Al Hafez. This agreement, and
ongoing processes, shows that our skin care series Moana and Cuvget
have high potential both in Europe and other parts of the world,
"said Arvid Lindberg," CEO of Aqua Bio Technology ASA.
"We are proud and enthusiastic about the new
partnership with Aqua Bio Technology. This represent an exciting
opportunity to bring a technology driven product in the
dermo-cosmetic field to the Kuwaiti market to meet increasing
demand of high quality innovative products. We hope this will
represent the nucleus of a fruitful long-term partnership and
further collaborations," said Mr. Habib Behbehani of Al Hafez
Trading Est.
About Aqua Bio Technology
ASA
Aqua Bio Technology (ABT) has launched several
cosmetic ingredients being used in skin care products globally.
Skin care is the fastest growing segment in the cosmetics industry,
where ABTs ingredients have established a foothold. In addition to
ingredients ABT also commercializes new technologies/skin care
products through in-licensing agreements with third parties. Aqua
Bio Technology is listed on Oslo Axess.
About Al Hafez Trading
Est.
Al Hafez Trading Establishment is a family owned
and operated pharmaceutical distribution organization founded in
1973 in Kuwait with a diverse portfolio. We enjoy excellent
distribution channels and a sound reputation. We operate from a
built to purpose facility of offices and a warehouse at which
quality standards of ISO 9001:2008 and Good Distribution Practice
(GDP) are maintained.Al Hafez represents a number of carefully
selected reputable multinational and regional principals. We seek
to strengthen our profile to meet expectations and demand of
healthcare industry in Kuwait by establishing a long-term
partnership with reliable partners. Our vision is to maintain our
position as one of the leading distribution in its category in
Kuwait.
For further information, please contact CEO of
Aqua Bio Technology, Arvid Lindberg, tel. +47 982 45 410.
This information is subject
to the disclosure requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.
ABT signed distribution agreement
with new partner in Middle East
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announcement is distributed by Nasdaq Corporate Solutions on behalf
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The issuer of this announcement warrants that they are solely
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information contained therein.
Source: Aqua Bio Technology via Globenewswire
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