Calgary, Alberta--(Newsfile Corp. - October 28, 2019) - Composite Alliance Group Inc. (formerly CanAsia Financial Inc.) (TSXV: CAG) (the "Company" or "CAG") announces it has entered into a 5-year distribution agreement with Magnum Venus Products ("MVP") and is now the exclusive authorized distributor for MVP products in the People's Republic of China, including Hong Kong and Macau.
MVP, an Illinois corporation in the USA, is a premiere manufacturer of composite based application equipment. MVP products consist of pumping systems, spray guns, filament winding systems, and other advanced equipment. MVP serves a multitude of manufacturers in a variety of industries such as automotive, aerospace, transportation, marine, railway, oil & gas, and wind turbine, among many others.
"We look forward to building a strong partnership with CAG to enhance market growth and support of our customers in this region," said Joan Tracy, Director of International Sales for MVP. She continued, "China is poised to be a huge market for composite manufacturers as they move from more traditional production methods to composites using automated equipment. To ensure that our customers there will have the best support for their process, the CAG team will be travelling to the MVP Technology Center in Kent, Washington for detailed sales and technical training."
Chairman of the board of CAG, Mr. Sicheng Zhang described this new partnership came naturally and timely, "ever since the reform and opening of China, Chinese enterprises emphasize more and more the importance of production efficiency and environmental protection. We believe by providing our customers with MVP's advanced products, as well as CAG's quality services, we could help augment the composite industry in China to an even higher level." Mr. Zhang is among the first few pioneers in the development of the composite industry for more than 30 years and has sold more than 5,000 units of dispensing equipment in China.
CAG will work closely with MVP to provide expert sales, training and technical support to those markets.
For further information, please contact Dale Burstall, Corporate Secretary and Director, via email at firstname.lastname@example.org.
Forward Looking Statements
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