Rhino Executes Distribution Agreement in China
2006-06-29 11:30 ET - News Release
TORRANCE, CA -- (MARKET WIRE) -- 06/29/06
CyberAds, Inc. (OTCBB: CYAD) reported today that its wholly owned subsidiary, Rhino Off-Road Industries, Inc. (ROI) the manufacturer of the Rhino Off-Road RTV®, (Rough Terrain Vehicle) has signed a letter of intent with Tuoma (www.tuoma.com) a domestic Chinese supplier of trucks and RVs to distribute the RTV product line throughout CHINA. The agreement (LOI) requires Tuoma to purchase a minimum of 1,000 RTV's over a three-year period for resale within the country starting in first quarter of 2007.
The booming economy in China has seen an insatiable appetite for American and European products that enable the newly wealthy to show off their success. More importantly the growth of the out door lifestyle and the OFF ROADING community has been overwhelming as the country comes to terms with its newfound mobility. The Rhino RTV is about as American a symbol as it gets, it's big, bold and goes where no other rubber tire vehicle of its kind will.
Tuoma who already manufactures, sells and rents RV's in china will introduce the Rough Terrain Vehicle product line to the Chinese market in October at commercial Auto Show in Shanghai with expected delivery of the first units in the first quarter of 2007. The company is a leader in promoting the outdoor lifestyle and is committed to building a number of RV campsites with adjacent Off Road facilities.
"This is a significant milestone in the development of our company," said Howard Pearl President of ROI. "Finding a partner in China that recognized the potential of the RTV in China further demonstrates the global appeal of our vehicles and the international demand for quality Off Road vehicles." "We have had numerous discussions with potential distribution partners over the last year, however without additional manufacturing capacity we were not able to expand beyond the United States. With the announcement of a new manufacturing facility in China we are fielding calls from around the world requesting information on the availability for distribution of our RTV products. This is a very exciting time for the company needless to say we are proud to be exporting a US design and building a quality product for the off road community everywhere," said Mr. Pearl.
About Tuoma
Tuoma is a subsidiary of Hebei Sida Industry Group, Co. LTD and is the brand under which products are sold in China. Tuoma's core business is the manufacture and customization of travel vehicles, carriage trucks, refrigeration vehicles, storage vehicles, petroleum vehicles, environmental supervision vehicles, cement mixers, and airport passenger vehicles. The company has a total of seven product lines with more than three hundred types of products.
About ROI
Rhino Off-Road Industries, a wholly owned subsidiary of CYAD is the manufacturer of the Rhino Off-Road RTV® (Rough Terrain Vehicle). ROI's management and design team are committed to providing affordable, innovative, safe-performance products that meet the needs of all off-road enthusiasts -- from the professional racer to the weekend adventurer. The company is based in Henderson, NV, a growing center for off-road activities. For information, visit www.Rhino-offroad.com.
About CyberAds
CYAD is a sales and marketing company that specializes in marketing products to young active consumers. The company works with manufacturers of sports, and entertainment products to build distribution networks and develop sales and marketing programs for their products. The company vision is to improve share price through development of an outdoor sports and recreation company that combines aggressive growth strategies and experienced business management. The company also develops media properties focused on the extreme lifestyle marketplace including the Planet X Group. For more information, visit www.CYAD.com, or call (800) 288-3099.
Cautionary Statement for the Purpose of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995: Forward-looking statements in this news release are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain important factors could cause results to differ materially from those anticipated by the forward-looking statements, including the impact of changed economic or business conditions, the impact of competition, the success of existing and new product releases, the management of our growth, other risk factors inherent in the internet, and extreme sports industries, and other factors discussed from time to time in reports filed by the company with the Securities and Exchange Commission.
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