(Alliance News) - Zenova Group PLC on Monday said it has expanded into Spanish, Portuguese and Latin American markets after signing a distribution deal with special purpose vehicle E-Z International.
The London-based fire safety and heat management product developer said the contract is for its entire range of heat management and fire safety solutions.
The deal is exclusive in Portugal and Central America, Zenova said.
It will cover an initial period of three years and can continue if a target level of GBP100,000 per annum is met. If the sales target minimum is not achieved, the agreement becomes non-exclusive, the company explained.
Zenova Chief Executive Officer Thomas Melchior said: "This agreement is a further step in executing Zenova's international expansion strategy through partnering with strong, experienced, regional companies to accelerate penetration of Zenova products and solutions. We have been persuaded by Gabriel's excitement for potential sales of Zenova products and solutions across Latin America, as well of course, with his significant financial success of building businesses in the region to date."
Shares in Zenova were up 2.6% at 3.20 pence each in London on Monday afternoon.
By Sabrina Penty, Alliance News reporter
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Zenova Grp (ZED)