For immediate release: Friday, 20 November 2009, 7AM
FeONIC strengthens its presence in the Middle East and CIS
FeONIC Plc ("FeONIC" or "the Company"), the innovative UK audio technology
company, is pleased to announce it has signed an exclusive distribution
agreement with MINDCo Middle East FZE ("MINDCo"), for the Middle East and CIS
regions.
Based in the Jebel Ali Free Zone, United Arab Emirates, MINDCo is well
networked across CIS, Indian Sub Continent and MEA countries and is positioned
to take advantage of its location and its relationship with its associates in
these countries. MINDCo and its associates in different countries are well
established to promote FeONIC's products as they have experience in
distributing and installing leading technology-based products from major
European and Asian brands into domestic and commercial environments.
Under the terms of the agreement, MINDCo will first be training its existing
distribution-, installation- and after-sales teams for the Middle East and CIS
regions on the FeONIC product range and then secondly developing those
networks.
Brenda Hopkins, Chairman of FeONIC, commented:
"We are delighted to be partnering with MINDCo. They have the right
infrastructure and network to be a meaningful distribution partner to the
business going forward being both able to generate its own sales as well as
support sales generated through other FeONIC agents in the regions."
Adish Chauhan, Director of MINDCo, added:
"FeONIC's products are unparalleled in the market-place providing
omni-directional audio solutions that represent the next generation in
audio-installations. In short, they transform the way architects, audio
designers and consumers are able to solve their acoustic problems. We look
forward to supporting and developing the Feonic's presence in our territories."
The MINDCo agreement builds on the recent agreement signed by the Company with
Techtonic Architectural Solutions ("Techtonic") who will continue to represent
FeONIC as a selling agent to the construction markets in Jordan, Syria,
Lebanon, Iraq, Saudi Arabia, Qatar, Bahrain, United Arab Emirates, Oman,
Kuwait, Egypt and Libya.
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About FeONIC
FeONIC Plc (PLUS: FEO) designs, develops, manufactures and distributes a range
of uniquely powerful audio products. The company's technology turns virtually
any resonant structures and surfaces into loudspeakers. The products are
currently used in public buildings, the transport industry and the marine
environment and are also available for home use. www.feonic.com
For further information:
FeONIC Plc
Brenda Hopkins,
Chairman Tel: 01482 806688
Graham Beswick,
Finance & Commercial Director Tel: 0779 8937021
Gth media relations
Christian Pickel Tel: 020 7153 8036
Toby Hall Tel: 020 7153 8039
MINDCo
Adish Chauhan Tel: +971 4 397 3157
The directors of FeONIC Plc accept responsibility for this announcement.
END