FSC / Press Release
JER SIGNS SUPPLY AND LOAN AGREEMENT WITH DUPONT
Vancouver, British Columbia CANADA, March 14, 2006 /FSC/ - JER Envirotech International Corp. (JER - TSX Venture), is pleased to announce that it has entered into a five year exclusive supply agreement with E.I. du Pont Canada Company ("DuPont"), a branch of E.I. du Pont de Nemours and Company, of Wilmington, Delaware.
Under the terms of the agreement, JER will purchase, on an exclusive basis, certain products ("Product") for its own use and for the use by its global joint venture partners, affiliates and contract manufacturers. DuPont shall provide JER with a custom package solution as long as JER continues to purchase the minimum annual volume of Product, as set out in the agreement. The custom package solution shall identify the Product on the package with a custom product code and without listing the ingredients.
In addition, DuPont has agreed to lend US$550,000 to JER, at an annual interest rate of 5%, for the purchase of compounding equipment for the Delta, BC facility. The loan is to be repaid over a period of five years either through a minimum annual payment or if minimum annual volume is purchased, then as a component into the purchase price of the Product. The loan can be repaid either in part or in its entirety without penalty at any time during the term of the Agreement.
ABOUT DUPONT:
E. I. du Pont Canada Company, whose business origins in Canada date to 1877, is a diversified science company, headquartered in Mississauga and serving customers across Canada and in more than 40 other countries. The company offers a wide range of products and services to markets including agriculture, nutrition, electronics, communications, safety and protection.
Further information is available at www.dupont.ca.
ABOUT JER:
JER is focused on the alternative wood products industry and is commercializing breakthrough intellectual property in various wood-plastic composites (WPC) markets. The Company has developed, in collaboration with the National Research Council of Canada (NRC), 42 WPC patent pending formulations. The Company is in the process of establishing manufacturing operations in Canada, Philippines, China, Malaysia and India to produce WPC compound and related products for several industries including the automotive industry and the building and construction industry.
Further information on the Company is available at www.jerenvirotech.com.
JER ENVIROTECH INTERNATIONAL CORP.
Per:
"Sokhie Puar"
Sokhie Puar, Director
For Further Information Please Contact:
Mr. Bijay Singh The Howard Group Inc.
Email: bijay@snjcapital.com David Gordon
Phone: 604-684-3783 info@howardgroupinc.com
Toll free: 1-888-221-0915
Phone: 403-221-0915
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