Ltd. to its Cambridge manufacturing facility today for a luncheon and signing ceremony, formalizing the South Korean companys commitment to represent Edgetechs line of Super Spacer® Warm Edge window spacers.ATs President, Sam Yoon was accompanied by John Yoon, Director of Business Development, and AT Vice President, Rinsu Ahn to the event which saw Cambridge Mayor, Sam Salupo present the ceremonial city keys to the visitors.
Noted Edgetechs Hovan, The Korean marketplace has recently demonstrated increased maturity and acceptance for Warm Edge spacer technology and Edgetech, working with the AT Spacer Korea Co. Ltd. group, is very well poised to capitalize on this promising trend. The market size for Warm Edge spacers in Korea exceeded $3,500,000 in 2003 and is expected to grow exponentially over the next few years as the market realizes the substantial energy savings and other benefits that this important technology provides. Earlier this year, explained Hovan, Edgetech IG took notable strides to open and develop the Korean marketplace for our products.
Two separate Korean delegations visited Edgetech IG in January and February of 2004, expressing interest in representing the company, a division of Lauren International, in the Korean market. This past April, Mike Hovan visited Korea to meet with leading Korean IG and glass manufacturers, along with other equipment and window manufacturers. After thorough due diligence, Edgetech drafted and signed a sales representative agreement with the ATS Group. With AT Spacer Co. Ltd., Edgetech is very optimistic about its potential to grab a large portion of the increasing five million dollar Warm Edge spacer market in Korea, reported Hovan.
The signing of the Korean marketplace agreement was followed by official dignitaries presenting gifts and certificates to the guests. Present were the Cambridge Mayor, Sam Salupo; Ohio Governors Representative in Cambridge, Bill Gotschall; Deputy Director of the Ohio Department of Development, Steve Schoeny; Ohio Department of Development Trade Advisor for the International Trade Division, Sean Corson; and Norman Banchard, Director of the Cambridge, Ohio Community Improvement Corporation.