WTC Industries Inc. announces Distributor Agreement for India

Business Wire, Jan 5, 1995

MINNEAPOLIS--(BUSINESS WIRE)--Jan. 5, 1995--Stanley I. Barenbaum, president of WTC Industries Inc. (NASDAQ Bulletin Board:WTCO) announced that WTC has entered into a definitive and exclusive Distributor Agreement with Vikram Associates Private Limited and its affiliates for the distribution of WTC's water purification products in India, effective immediately. The Agreement calls for minimum purchase of $1.8 million of product over the next 18 months, and a total minimum of $11.3 million over the first 3 1/2 years of the Agreement.

Vikram Associates is one of the largest and best established container-handling companies in India, and is part of the Vikram group of companies comprising four integrated corporations serving the specific needs of industry relating to the transport and handling of goods. The Vikram group has interests in materials handling, transportation, construction, clearing and forwarding, and mining. With the signing of this Agreement, the Vikram group has now made a commitment to enter into the Indian market for much-needed water purification. The need and demand for pure water in India is tremendous.

Barenbaum commented: "We are truly excited about serving the Indian market through Vikram. Their commitment to excellence and financial resources make this a truly unique and exciting opportunity to serve a market of approximately 900 million people."

WTC manufactures and markets water purification products world-wide for commercial, industrial and consumer applications using iodinated resin technology developed by Kansas State University. The iodinated resin technology is used by NASA for the Space Shuttle water purification system.

CONTACT: WTC Industries Inc., Minneapolis

Stanley I. Barenbaum, 612/473-1625