DELTA, BC, March 22 /PRNewswire-FirstCall/ - AirTest Technologies (TSXV: AAT) announce today the signing of a major distribution partner agreement with Omni Marketing Group - Asia (OMG Asia) to sell AirTest's innovative energy saving products and systems in select Southeast Asian markets.
Terms of the agreement call for Tegma Asia Pte Ltd., a wholly owned subsidiary of OMG Asia specializing in clean-tech and energy efficient technology, to generate $3 million to $5 million in sales over the next three years. Tegma will focus on selling AirTest products that significantly reduce the carbon footprint of commercial and residential buildings, including carbon dioxide (CO2) and carbon monoxide (CO) sensor technologies.
OMG is the largest, integrated retail marketing service company in Asia. The agreement calls for Tegma's efforts to be rolled out in two phases within the next three years. Initial efforts will target sales in Singapore, Thailand and the Philippines. By 2012, sales efforts will expand to Malaysia, Indonesia, Vietnam, Cambodia, Myanmar, Guam and Saipan.
"OMG maintains close working relationships with major retailers and building owners throughout the Southeast Asia Region. This agreement provides us with a strong distribution partner that can achieve significant penetration of new energy retrofit markets, where we can deliver and verify significant energy savings to building owners," said AirTest President George Graham. "This includes sales of our parking garage, CO2 demand control ventilation and humidity control products."
According to Bob Mebreur, CEO Of OMG Asia, "Rising energy prices and environmental concerns have created significant demand for technologies that can cost effectively reduce energy consumption and environmental impact in commercial buildings in the Asia Pacific market. AirTest's product portfolio and proven track record of delivering verifiable savings, is in very high demand by our customers. The time is right for AirTest in Asia."
About AirTest: AirTest Technologies (www.airtest.com) is a Green-Tech company specializing in sensors that improve commercial building operating efficiency and at the same time create energy savings. These sensors are all based on technical innovations developed in the last ten years, and comprise a growing second wave of energy saving technologies that will make a significant contribution to the Sustainable Buildings Program. AirTest offers its products to leading-edge building owners, contractors and energy service companies targeting the buildings market. AirTest also provides energy cost reduction solutions to building equipment and controls manufacturers who incorporate AirTest sensor components in their products.
About OMG Asia
OMG Asia (www.omg-asia.com) is the largest integrated retail marketing service company in Asia. Over the years, it has built an extensive retail network with the top retailers throughout the Asia-Pacific, including China, Hong Kong, Indonesia, Malaysia, Philippines, Singapore, Taiwan, Thailand and Vietnam. An estimated total of 36 million consumers pass through the doors of OMG's retail network annually. OMG Asia is also the parent company of Tegma Asia Pte Limited (tegma-asia.com) that focuses on offering energy saving solutions to commercial buildings. The company offers energy saving systems that fully validate energy performance and shared savings programs that can be used to pay for system installation based on delivered energy savings.
Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements". The Company intends that such forward-looking statements be subject to the safe harbours created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from the expected results.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE AirTest Technologies Inc.