The deal will initially be worth $15 million in 2008.
Thermoplastic board producer Palram Industries Ltd. (TASE: PLRM) has won a new contract together with US company Trex Co. (NYSE: TWP) to provide PVC trimboards to markets in the US, Canada and Mexico.
Palram's share of the contract, which will be executed by its US subsidiary, will be worth about $15 million in 2008. Trex produces and markets composite decking, railing, and fencing, to the US construction market.
The contract will initially be for a three-year period with an option to extend by one year at a time. The two companies will also have the right to terminate the agreement by twelve months notice, should they fail to reach agreement on prices, which will be reviewed once a year.
Published by Globes [online], Israel business news - www.globes.co.il - on October 28, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007