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IBCI Signs Contract With Arrow Engineering Inc. for the Carpet Industry

November 5, 2002
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ATLANTA, Oct. 25 /PRNewswire-FirstCall/ -- International BioChemical Industries, Inc. announced the signing of a distribution agreement with Arrow Engineering Inc. under its revised distribution model. Under the new format of the distribution model, there are performance criteria that are required to be met. The program is based on a working relationship between the two companies to meet the objectives of both IBCI and Arrow Engineering Inc.

Arrow will provide IBCI status reports and plans on a regular basis, including projected volumes by quarter as part of the new distribution program. IBCI, has in the past, put dollar criteria into contracts, which is not the standard for the specialty chemical industry. IBCI received orders within 48 hours of signing the distribution agreement as an indication that this program is based on the development of the carpet industry market together in a distributor/manufacturer relationship.

Deirdre Baker stated, "We are very excited about the opportunity to work closely with Arrow Engineering in support of the carpet industry. Arrow Engineering's knowledge of the industry and relationship with the top carpet manufacturers is the reason we entered into this agreement. We have spent the last few months developing our new program and the company is now moving forward with this type of distribution agreement which will be typical with all distributor contracts."

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