Feb 10 2010
AGR Tools, Inc. (OTCBB: AGRT) is pleased to announce that AGR Stone & Tools USA, Inc., with which AGR Tools, Inc. has entered into a binding share exchange agreement, has exceeded its recent distribution growth plans by adding five new dealerships to its network. Starting with just 11 dealerships in 2008, the company currently has 25 distributor locations throughout the United States and Canada.
"Due to the overwhelming interest in our stocking dealer program, we have experienced a rapid increase in our distribution network," noted Rock Rutherford, the CEO of AGR Tools, Inc. and AGR Stone & Tools USA, Inc. "Each location represents what I expect will be a minimum of $150,000 in annual sales and an average volume of $600,000 per distributor. Our goal by the end of 2010 is to have 63 dealers in our network which will represent an average of $37.8 million in annual sales."
A stocking dealer of AGR Stone & Tools USA, Inc. must become familiar with over 200 of the more than 700 consumable diamond tool products available from the company's product line during its initial training, and is required to increase its knowledge in connection with any increase in customer base. Each location caters to the natural stone, concrete, building maintenance, masonry, tile, flooring and engineered stone markets by offering superior quality tools and excellent local customer service. "Our dealers are strategically located throughout North America and are the catalyst to the success of our company," added Rutherford. "By offering a full warranty on all of our products, excellent customer service and quality consumable tools, we are positioned to capture our goal of 25% of the diamond tooling industry."
Source: http://www.agrtools.com