Remedent N.V., a wholly-owned subsidiary of Remedent USA, Inc., a developer and worldwide supplier of high-technology dental equipment and oral hygiene products, today announced the successful negotiation of a contract manufacturing agreement with a large OEM manufacturer based in France.
The manufacturer will be utilized exclusively for the production of the RemeCure CL-15 dental curing light, procuring all necessary materials and handling all aspects of production on the unit. The Company will provide the manufacturer with quarterly purchase orders and weekly delivery schedules, and be billed per unit received. In addition, the Company has negotiated an initial credit line of 45,000 Euro (approx. $40,000 USD) to be used towards initial units. The Company expects to commence shipments of this product by March of this year.
"We are extremely pleased with the partnership this agreement represents," said Remedent Chief Financial Officer Stephen F. Ross. "We feel our connection with a respected manufacturer in the European market provides additional credibility to our technology. Also, the initial credit line extended to us displays a belief in our product and partnership in our operations."
With operations in the United States and Europe, the Company markets an innovative premium toothbrush within the oral hygiene market, and is currently developing and marketing high-technology dental equipment within the professional dental technology market. The Company's objectives are to become a leading developer and manufacturer of high-technology dental equipment and oral hygiene products.
