Workforce announces first European distribution of Thaw Master

Business Wire, Feb 21, 1995

ALCOA, Tenn.--(BUSINESS WIRE)--Feb. 21, 1995--Workforce Systems Corp. (OTC Bulletin Board: WFSC) announced today that an agreement in principle had been reached with an undisclosed European company regarding distribution of the Thaw Master(P) thawing trays in Australia, Germany, Switzerland, Italy, France and Spain.

The terms of the letter of intent between Naturale Home Products, Inc., the company which developed and markets the Thaw Master(P), and the undisclosed European company sets the initial sales volume to be required under the definitive distribution agreement of approximately 100,000 to 125,000 units in the first year which will almost double current production. The unit price is comparable to the price paid by American buyers and terms of sale are FOB factory with payment to be made in full either 30 days prior to shipment or by a negotiable letter of credit. No other terms of the definitive agreement, which is anticipated to be executed within the next 30 days, were disclosed.

Naturale representatives advised WFSC that it had been undulated with a wave of inquiries and requests for distribution agreements by companies in United States, Europe, the Pacific Rim and South America following the exposure of the Thaw Master(P) at the International Housewares Show in Chicago last month. Initial discussions are on going with several other major overseas housewares distributors, as a well as two major U.S. retail chains.

WFSC is a provider of specialized labor services on a contract basis to businesses and the exclusive manufacturer of the Thaw Master(P) thawing trays. WFSC also owns 15% of Naturale Home Products, Inc. and receives a royalty of from $.30 to $.50 on each Thaw Master(P) sold by Naturale in addition to WFSC's profit on the contract manufacturing.

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