Press Release Source: Green Earth Technologies
Monday December 22, 2008, 11:37 am EST
STAMFORD, Conn.--(BUSINESS WIRE)--Green Earth Technologies (Pink Sheets: GETG - News), a leading manufacturer and marketer of “green” environmentally safe consumer packaged goods products, announced today a five year worldwide distribution deal with Techtronic Industries Co. Ltd. (“TTI” or the “Group”) (HKEx stock code: 669, ADR symbol: TTNDY) for “G”-Branded products beginning in January 2009. TTI, the producer of Ryobi and Homelite hand held gas and electric powered outdoor equipment, including grass and weed trimmers, blowers, chain saws and hedge trimmers has agreed to distribute GET products throughout their current global distribution network. The deal encompasses over 20 GET products, including all G-OIL™ 2-Cycle, 4-Cycle, bar & chain, and pump oils, with the rights to distribute the entire line, consisting of several new product launches for 2009.
This announcement comes on the heels of an agreement between Green Earth Technologies and Ryobi Outdoor Gas Powered Equipment which secured G-OIL™ as the companion oil packaged with all Ryobi branded outdoor power equipment beginning in 2009. TTI thoroughly tested G-OIL, as well as all of the “G”-Branded products and determined that they met all of their performance requirements. As an additional benefit, all of the “G”-Branded products are recyclable, renewable, ultimate biodegradable and environmentally safe, and match the global strategy for TTI.
“We are extremely pleased with our expanding relationship with TTI,” said Dr. Mathew Zuckerman, President and COO of Green Earth Technologies. “Agreeing to a global deal with Techtronic Industries is a great accomplishment for our company and we look forward to making a huge impact in the industry and in the global green initiative with our bio based oils and a number of additional GET products.”
TTI, a more than $3.5 billion Company, distributes products throughout The Home Depot markets in the USA, Mexico and Canada, as well as in a variety of home centers around the world. They are also the recipient of three coveted awards in 2008 from The Home Depot including the Vendor of the Year Award for Lawn & Garden, the Marketing Award and Runner Up for Innovation.
“We are very pleased with the performance of GET products to date and look forward to introducing the environmentally conscious company to the rest of the world through our global network,” says Lee Sowell, President of TTI Outdoor Power Equipment. “Green is a global initiative and GET products will certainly satisfy consumers’ needs everywhere.”
Founded in 1985 and listed on the Stock Exchange of Hong Kong Limited in 1990, TTI is a world-class supplier of superior home improvement and construction tools with a powerful portfolio of trusted brands and a strong commitment to innovation and quality. The portfolio that TTI offers includes a full line of power equipment products, floorcare, laser and electronic products, employing approximately 23,000 people worldwide. TTI’s portfolio of global brands includes, among others, Milwaukee®, AEG®, Ryobi®, Stiletto®, Homelite®, Royal®, Dirt Devil®, Regina®, Vax® and Hoover®.
ABOUT GREEN EARTH TECHNOLOGIES
Green Earth Technologies produces G-branded superior performing totally green products made with American-grown base oils that utilize the power of nanotechnology to deliver environmentally friendly products with no compromise... meaning, consumers can now "do their part" without having to give up performance or value: Save the Earth – Sacrifice Nothing. The G-brand family of products include G-OIL(TM), G-LUBE (TM), G-WASH(TM), G-GLASS(TM), G-CLEAN(TM), G-SCENT(TM), G-WHEEL(TM), G-PROTECT(TM) and G-TIRE(TM), and are offered in a wide range of automotive categories including performance and appearance chemicals. GET products are now available at The Home Depot, Kroger, VIP, National Auto, Fred Meyer, participating ACE & True Value dealers, Redners, Trader Horns, The Andersons, Biggs, Bennett Auto, Frank’s Auto Supermarket and Amazon.com. Please visit http://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fexg3.exghost.com%2Fexchweb%2Fbin%2Fredir.asp%3FURL%3Dhttp%3A%2F%2Fwww.getg.com%2F&esheet=5859455&lan=en_US&anchor=www.getg.com&index=1 for the latest news and in-depth information about GET and its brands.
Statements made in this release that relate to future plans, events, financial results or performance are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. These statements are based upon current information and expectations. Actual results may differ materially from those anticipated as a result of certain risks and uncertainties. Investors should also be aware that while the Company from time to time does communicate with securities analysts, it is against the Company's policy to disclose to them any material non-public information or other confidential commercial information. Investors should not assume that the Company agrees with any report issued by any analyst or with any statements, projections, forecasts or opinions contained in any such report.
Grey Alliance Courtney Jacobs, 212-546-2372 firstname.lastname@example.org or Investors: ICR Ina McGuinness, 310-954-1100