Kuwait Orders Boats from Sealegs

Friday, October 13, 2006
According to Radio New Zealand, Sealegs International says it has shipped its first amphibious boat to Kuwait and has received orders for five more. It says two boats are scheduled to be shipped each month to Kuwait over the next three months, the group's fastest entry into a new country market. It says the six Kuwait orders represent approximately $500,000 in forward revenue. This week Sealegs announced a deal in Asia. The Kunjang Shipbuilding Co in South Korea signed a distribution agreement for the Korean market and placed an order for five boats. The original deal was worth $400,000, and Kunjang agreed to buy at least another five to 15 boats once the market is established. source: Radio New Zealand

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