ToughBuilt Industries Inc (TBLT)

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ToughBuilt Expands Distribution in Spain and Enters into Supply Agreements with Predominate Hardware Distributor and a Hardware Super-Cooperative
August 08 2022 - 08:30AM
GlobeNewswire Inc.
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ToughBuilt Industries, Inc. ("ToughBuilt") (NASDAQ: TBLT; TBLTW), today announces the Company’s entry into a supply agreement with Elecktro3 S.C.C.L (“Elecktro3”) and NCC Hardware Purchasing and Services Centers, SL (“NCC”), increasing the Company’s presence in Spain’s hardware marketplace.
Elektro3 has 25 years of experience in the sector and over 22,500 end users, mostly professional across Spain and Europe. Based in Catalonia, Spain, Elektro3 is a leading importer, exporter, and distributor of products for hardware stores, DIY stores, appliances, and gardening.

NCC is a super-cooperative and its members operate over 1,000 stores in Spain. NCC is located in Parelts del Valels, Barcelona and is a partnership among four hardware and industrial supply co-operatives in Spain - QF Plus, Conifer, YMAS and Synergas.

Collectively, the two new agreements complement ToughBuilt’s existing relationship with Cecofersa, Spain’s largest individual buying group for industrial hardware and supplies. Cecofersa has 120 members operating 250 stores across Spain and Portugal.

Michael Panosian, ToughBuilt CEO, commented, “Elektro, NCC and Cecofersa are respected entities across the Iberian Peninsula and are of major importance to us.” Panosian continued, “We anticipate that their highly regarded reputation and reach in Spain’s hardware marketplace will significantly increase ToughBuilt’s presence and further drive our sales and brand presence throughout the region.”

ABOUT TOUGHBUILT INDUSTRIES, INC:
ToughBuilt is an advanced product design, manufacturer, and distributor with emphasis on innovative products. Currently, we are focused on tools and other accessories for the professional and do-it-yourself construction industries. We market and distribute various home improvement and construction product lines for both the do-it-yourself and professional markets under the TOUGHBUILT brand name, within the global multibillion dollar per year tool market industry. All of our products are designed by our in-house design team. Since launching product sales in 2013, we have experienced significant annual sales growth. Our current product line includes three major categories, with several additional categories in various stages of development, consisting of Soft Goods & Kneepads and Sawhorses & Work Products. Our mission is to provide products to the building and home improvement communities that are innovative, of superior quality derived in part from enlightened creativity for our end users while enhancing performance, improving well-being and building high brand loyalty. Additional information about the Company is available at: https://www.toughbuilt.com/.

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