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Texada Announces Dealership Agreement With LiuGong Construction Machinery- Texada, through its wholly owned subsidiary, Noble Equipment, Inc., has signed a distribution agreement with LiuGong Construction Machinery, a top-20 global construction equipment manufacturer - The dealership agreement provides Noble Equipment, Inc. ri (May 15, 2012)
GUELPH, ONTARIO -- (Marketwire) -- 05/15/12 -- Texada Software Inc. (TSX VENTURE:TXS) ("Texada" or the "Company"), following last week's announcement of a $25.0 Ml. U.S. financing agreement for the Company's equipment rental business, is pleased to announce the signing of a dealership agreement with LiuGong Construction Machinery ("LiuGong") through its wholly owned subsidiary, Noble Equipment, Inc. ("Noble Equipment").
The agreement provides the Company with exclusive distribution rights for LiuGong products including wheel loaders, excavators, motor graders, compaction equipment and bulldozers in one of the best performing markets in the United States, Houston, Texas. In addition, Noble Equipment will have exclusive territory rights to service LiuGong products and to provide LiuGong attachments and parts.
In conjunction with the agreement, over the next 12 months the Company will purchase a minimum of 20 LiuGong units that will be added to Noble's rental fleet and floor plan equipment available for sale. The counties covered by the agreement's territory rights include Austin, Brazoria, Chambers, Fort Bend, Galveston, Grimes, Hardin, Harris, Jasper, Jefferson, Liberty, Tyler, Montgomery, Newton, Orange, Polk, San Jacinto, Waller, Walker and Washington.
"Texada's management team continues to execute on our vision of expansion into multiple sectors of the construction and industrial equipment industry," said Willie Swisher, CEO. He continued, "this new exclusive agreement with a top-20 global manufacturer such as LiuGong is very exciting for the Company and will allow us to accelerate and deploy our business model in one of the strongest markets in the U.S. We anticipate launching the business this Summer."
Nabil Kassam, Executive Chairman of Texada, added, "our view is that in the near future, the equipment industry will experience a convergence of rental and sales channels, fueled by integrated technologies that drive efficiencies and smarter decision making for manufacturers, equipment providers and end-customers. Texada's partnership with LiuGong represents a defining moment, not only for our two companies, but for the industry."
About LiuGong Construction Machinery
LiuGong (officially Guangxi LiuGong Machinery Co. Ltd.), is a Chinese multinational construction machinery manufacturer headquartered in Liuzhou, China. Founded in 1958, LiuGong is China's largest construction equipment manufacturer and is the world's largest manufacturer of wheel loaders. LiuGong employs over 19,000 people worldwide, has 2,650 sales outlets, 379 dealers, and 24 global manufacturing facilities. Supporting the dealer network are 10 regional offices with engineering, marketing, and service support, coupled with 10 parts depots located strategically throughout the world.
More information is available on LiuGong at www.liugongna.com.
About Texada Software Inc. (TSX VENTURE:TXS)
Texada Software Inc., following the launch of its LiuGong dealership, operates in three complementary businesses, equipment rental, equipment dealership and enterprise asset management software.
The Company, through its wholly owned U.S. subsidiaries, is expanding its presence in the construction and industrial equipment industry and conducts business as Noble Rents, Inc. in Southern California and Noble Equipment, Inc. in Houston, Texas. Noble Equipment, Inc. is the exclusive distributor of LiuGong Construction Machinery equipment in Southeast Texas.
The Company's enterprise software business, Texada Software, is the premier provider of equipment asset management software solutions for equipment rental, dealership and construction companies globally. Texada's solutions are available both in-the-cloud or client-based, are scalable to meet the unique needs of any sized operation and are backed by proven implementation, services and support. Texada's market-driven software products combine knowledge and best practices from over 5,000 users worldwide.
Texada can be reached at 1-800-361-1233 or 1-519-836-7073, or at www.texadasoftware.com.
This news release may contain forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the difficulty in predicting acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industries in which the Company participates; others are more specific to the Company. Texada's ongoing quarterly filings should be consulted for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. Management assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Corporate communications contact:
Texada Software Inc.
Jim McInnis, Chief Financial Officer
1-800-361-1233 x - 2104
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