18 June 1998: US-based film coatings producer, Southwall Technologies Inc., announced that it has concluded an agreement granting exclusive North American marketing rights to GMX Associates Pte. Ltd. …
18 June 1998: US-based film coatings producer, Southwall Technologies Inc., announced that it has concluded an agreement granting exclusive North American marketing rights to GMX Associates Pte. Ltd. of Singapore for all retrofit flat glass applications of its Solis solar films. The agreement, says Southwall, in the form of a signed addendum to the company“s master contract with GMX, accomplishes the company“s goal of placing all worldwide rights to Southwall“s aftermarket films, which incorporate the patented XIR coating, exclusively under the GMX umbrella. GMX already holds worldwide rights to Southwall“s aftermarket products for automotive glass. Terms of the addendum involve a US$ 1 million licensing fee payable to Southwall, with an initial installment of US$ 250,000 payable in June of this year, as well as a multimillion-dollar, multiyear supply of film deliverable to GMX. Southwall“s original distribution agreement assigned GMX all marketing rights outside of North America for architectural and automotive glass applications marketed under the private-label V-KOOL brand name. Under an expansion of Southwall“s master contract with GMX signed in November 1997, GMX added the V-KOOL automotive glass business in North America, entering into an exclusive relationship with V-KOOL Inc., with headquarters in Houston, Texas. This latest agreement expands GMX“s North American distribution rights to include the architectural markets. GMX will continue to sell to this market under the Solis brand. “We are pleased to unify the flat glass and automotive business in North America and to expand our proven marketing partnership with GMX,” said Thomas G. Hood, Southwall“s president and chief executive officer. “This agreement puts our high-end solar control products for the aftermarket in the hands of a very capable and well-funded marketing company. Southwall and GMX will be a powerful force in the rapidly growing aftermarket business worldwide,” added Hood.