GPS Industries, Inc. (GPSI) the only provider of Wi-Fi powered, advertising enhanced GPS systems for golf facilities, resorts and residential communities, announces that it has signed a Master Supply Agreement (“MSA”) for sales in China with GPSi Asia, our exclusive Asian distributor.
As a result of continued emergence of the China market, GPSI and GPSi Asia have agreed to terms whereby GPSi Asia will purchase 15 or more systems or up to 1,750 Inforemer HD Mobile Display Units (“MDU”). In accordance with the MSA, GPSi Asia has advanced an initial deposit to GPSI to initiate production of the first 5 systems and to obtain preferred pricing.
The MSA projects that GPSi Asia will have submitted purchase orders valued at up to $3.5 million to fulfill the quantities contained in the MSA by the end of this year.
“GPSI is very excited about this opportunity to expand our customer base and the use of the Inforemer product in China. Through our International Distribution Agreement signed in May of 2006, we believe GPSI Asia has proven their ability to compete in this market and we look forward to working with them well into the future,” stated Bart Collins, member of GPSI’s board of directors.
GPSI is a minority shareholder in GPSi Asia whereby GPSI owns 17.5% of the common stock of GPSi Asia.
GPS Industries www.gpsindustries.com
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