Saint Jean Carbon (TSXV:SJL) entered into an Exclusive Distribution Agreement with Miluo Xinxiang Carbon Products Co. Ltd. to market and sell synthetic graphite products in Canada, the United States, and Mexico.
As quoted in the press release:
The agreement has been established for an initial term of five years with an option for two additional ten year periods. Under the agreement Saint Jean will sell a minimum of 1,800 metric tonnes during the first year, 5,000 tonnes the second year, and follow through with 10% increases in tonnage for each of the remaining years of the initial term.
Saint Jean Carbon CEO, Paul Ogilvie, said:
We are pleased with the results of this new development. Our experience in the North American steel and foundry sectors has provided us with numerous requests for new and affordable supplies of synthetic graphite. Miluo represents an ideal source for these products. It is established, cost-effective, and actively seeking new customers and markets. As a result we think this agreement will create multiple synergies and opportunities to generate new revenues for both Saint Jean and Miluo.