Perhaps there was a reason for that hype:
"Thermal Energy International & Kemco Systems Inc Conclude Exclusive Distribution Agreement
6/8/2009 7:47 AM - Canada NewsWire
OTTAWA, Jun 8, 2009 (Canada NewsWire via COMTEX News Network) --
Agreement adds new products and customers across Europe, Middle East and
Asia
Thermal Energy International Inc. (TSX-V:TMG) (www.thermalenergy.com) (the "Company" or "Thermal Energy") is pleased to announce it has concluded an agreement with Kemco Systems Inc (Kemco) of Clearwater, Florida (www.kemcosystems.com) to become the exclusive distributor of Kemco products in all areas globally except North and South America.
Kemco is a recognized leader in providing high efficiency, environmentally friendly water heaters, heat recovery, and water treatment systems, guaranteeing performance that will save water, labor, energy, sewer, and chemical costs. In business since 1969, Kemco's knowledge and experience has provided over 5,000 systems world-wide to the laundry, textile, food & beverage, ready mix concrete, automotive and other industries.
As part of the agreement TEI will take on three Kemco International employees in the United Kingdom under TEI's GEM division. TEI immediately takes over the existing Kemco pipeline of sales opportunities in all the territories represented in the distribution agreement.
"We are very pleased to conclude this agreement with Kemco, adding a number of new proven products to our offering, ultimately providing more options and more value for our customers" said Tim Angus Thermal Energy International President & CEO. "Kemco has an established track record as the industry leader for heat recovery, ultra efficient water heating and water recycling technologies" said Angus.
Under the terms of the agreement, TEI will continue to market its trademark Flu-Ace(R) to select customers and industries, while also adding Kemco's line of condensing boiler stack economizers, direct fired water heaters, waste water and heat recovery systems. In addition, Kemco will manufacture TEI's Flu-Ace(R) systems to TEI's specifications at their Clearwater, Florida manufacturing plant. This arrangement is anticipated to improve TEI's manufacturing cost.
Kemco's boiler stack heat recovery product and its environmentally friendly water heaters are strong compliments to TEI's proprietary Flu-Ace(R) heat recovery and GEM Condensate Return products. In addition Kemco's water recycling technologies will allow TEI to capitalize on the rapidly growing trend of on-site commercial and industrial water treatment and water recycling among its customers. The strong customer and industry overlap between Kemco, TEI and GEM should provide significant opportunities for sales synergy and expansion.
"We are very excited about this agreement and we look forward to the future with TEI and GEM and expanding our tried and proven technologies globally" said Carroll Gorrell, President & CEO of Kemco Systems Inc.
In North America, TEI will continue to offer its full suite of solutions to its customers, but now has the option of providing it's USA based customers with a very competitive 'Made in America' heat recovery solution...." (Disclaimer and 'about' paragraphs, omitted."
TMG started at .08, this morning. Worth more than a watch...
g.p.
AI
