18 Jan 2016 07:00
Date: | 18th January 2016 |
On behalf of: | Paragon Entertainment Limited ("Paragon", the "Company" or the "Group") |
Embargoed until 0700hrs on Monday 18 January 2015 | |
Paragon Entertainment Limited
Representation Agreement with Funlandia, China
Paragon Entertainment Limited (AIM: PEL), the attractions design, production and fit-out business, is pleased to announce that it has entered into a joint representation agreement with Funlandia, a China-based designer and manufacturer of leisure and play equipment.
Paragon will represent Funlandia's leisure and play equipment exclusively in the UK and Funlandia will represent Paragon's bespoke design and build offering across the East Asia and South East Asia region. The agreement will allow Paragon increased access to regional businesses, local trades and materials and trading licences for projects. Funlandia will benefit from Paragon's sales, marketing and bespoke design and build expertise in Europe and the Middle East and will provide Funlandia with a bespoke offering for its existing corporate client list in its existing markets.
Paragon is also working on a number of key branded product offerings that will utilise Funlandia's leisure and play equipment which can then be sold worldwide through its representations in the Middle East, East Asia and South East Asia and Europe.
Paragon has had a limited presence in the Far East and, based on the success of its Dubai representation agreement, it is Paragon's objective in 2016 to increase its representation base around the world so as to attract and find new projects in new regions where it is not currently active.
Commenting on the deal, Mark Pyrah, CEO of Paragon Entertainment said:
"I am delighted to announce this deal, which follows a period of significant interest in Paragon from around the world. As most projects require local understanding, representation on the ground is an important strategic step to drive sales and growth in new areas of the world. We chose to work with Funlandia due to their in-depth knowledge of the region and strong existing client base and we look forward to creating joint and reciprocal opportunities through this synergistic partnership. This relationship is born from a direct need by both companies and from immediate projects that will catalyse this relationship."
For further information:
Paragon Entertainment Limited Mark Taylor (Chairman)
FinnCap Ltd Julian Blunt / Simon Hicks (corporate finance) Alice Lane (corporate broking) |
01904 608020
020 7220 0500
|
Notes to Editors:
Paragon Entertainment Limited (AIM:PEL) is an award winning provider of attraction services from initial design production and consulting through to the fit out and installation of themed attractions, heritage exhibits, museums, aquariums and water parks, inter alia.
Paragon Entertainment is the holding company for Paragon Creative Limited.
The Group's projects have included:
· The design and build of Kidzania, London;
· The design and build of galleries at the Olympic Museum for the IOC in Lausanne, Switzerland;
· The design and build of the galleries at The National Museum of Kazakhstan;
· The design and build of Titanic Belfast;
· The thematic build of the Wallace and Gromit ride at Blackpool Pleasure Beach;
· Licensing and distribution installations at Gullivers, Milton Keynes and Art Mall, Ukraine.
The Group listed on AIM in 2011.
Further information can be found at: http://www.paragonent.com.