Mar 5 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 expanded its distribution network into Pittsburgh and the Western Pennsylvania area. The company's latest dealer is located in Allegheny County and is able to service a population of over 1.8 million people with an annual diamond tool market estimated at approximately $7,000,000. The addition of the Western Pennsylvania territory represents the next step in the North American expansion strategy of AGR Stone & Tools USA, Inc.
As the only major supplier of diamond tools that markets and distributes its products directly to customers, AGR Stone & Tools USA, Inc. has a major advantage over its competition. By selling directly, the company plans to control a quarter of the approximately $8 billion North American diamond tool market. "Our goal is 25% of the market which equates to $2 billion in sales. As our distribution network continues to grow, that goal is becoming more and more a reality", commented Rock Rutherford, the CEO of both AGR Tools, Inc. and AGR Stone & Tools USA, Inc.
Source: http://www.agrtools.com