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The Power of “One”
SINGAPORE – January 29, 2007 – Globamatrix Holdings Pte Ltd and Mulberry Asia Fund are pleased to announce the establishment of a joint venture entity, Novomatrix Pte Ltd (the “Company”) to acquire all the window film businesses of Novomatrix Holdings Pte Ltd and its subsidiaries (the “Group”).
The Singapore headquartered Group is a market leader in the spectrally selective window film business with several global brand names including V-KOOL Ò , Huper Optik Ò , Nanolux Ò and IQue Ò . It has market presence in 26 countries with distribution reach in excess of 1,000 outlets worldwide. Amongst its varied achievements, the Group has successfully branded and commercialized a promising technology described by Popular Science magazine as “the Top 100 Inventions of the Millennium” and nurtured it into an internationally recognized household name. In the many markets it serves, V-Kool is the dominant player by market share and brand awareness, a result of the Group's success in brand creation and management, marketing and distribution.
Mr. Andrew Kwan, a Director at Novomatrix Holdings, comments, “Today marks a new chapter in the Group's exciting history. From its early beginnings as a niche player in the premium segment of the window film market to its current standing as a globally recognized market leader, the Group seeks to fuel augmented growth in the industry it serves. The partnership with Mulberry Asia Fund provides us access to value added capital and eminent management expertise. We are optimistic of the Company's outlook in the years ahead – anchored by our established brands, exclusive distribution channels and an increasing demand for proven energy saving products which are underpinned by rising energy costs.”
“We are pleased to have invested in Novomatrix, with its unrivalled brands and technology, proprietary distribution, and robust growth potential.” says Mr. Kenneth J.H. Tan, a partner of Mulberry Asia Fund. “We are particularly attracted to the management team who has built a distinctive franchise in this exciting industry.”
The acquisition by Novomatrix Pte Ltd was completed on 29 January 2007.
ABOUT GLOBAMATRIX HOLDINGS PTE LTD
DUBAI, UNITED ARAB EMIRATES – January 2007 - The V-KOOL GCC Co-Op Initiative is organized by V-KOOL International Dubai Regional Headquarters (RHQ) and supported by V-KOOL franchisees from Emirates, Kuwait, Oman and Saudi Arabia. The main objective of this Co-Op is to combine the energy, expertise, information and experience of all partners to build-up a solid foundation for regional cooperation in terms of innovative ideas; advertising and promotional programmes; and a strong force to be reckoned with in the Middle East region. Hence, the term Gulf Cooperation Council (GCC) was coined to signify the strong commitment of V-KOOL countries in the Middle East coming together as ONE entity.
Indeed, there are many synergies to be harnessed for all regional V-KOOL countries to meet regularly to collaborate as a group for greater business growth, economies of scale and exchange of success formulas due to the common profile of this market.
The inaugural Meeting was held in Dubai in May 2006 with Mr. Frank Herzog, an external consultant who facilitated and assisted Dubai RHQ in providing the best services to the Middle Eastern network. The other Co-Op Meetings were held in Muscat City, in the Sultanate of Oman in November 2006 and Khorfakkan, UAE in February 2007 respectively.
The first fruit of labor from such Meetings was manifested in 4 GCC members sharing advertising expenditure in various magazines in the region in early 2007. It has generated positive results for the participating countries. In the second half of 2007, Dubai RHQ will take the lead and co-share with these 4 members to aggressively promote V-KOOL in two of the most prestigious woman magazines in the Middle East, namely Sayidaty and Zahrat Al Khaleei, targeting at the women car-owners. Indeed, a lucrative segment with the growing numbers of women driving cars in the Middle East.
Workshops are also held during these Meetings. Every Workshop would include role playing or working in a team to promote synergy in the group.
The next Co-Op meeting will be held in Kuwait. Keep the V-KOOL spirit going, GCC members…!
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