June 01, 1999

Lila White
(804) 692-3110

Jill Lawrence
(804) 371-0049
Governor Gilmore Announces Rehrig's Licensing Agreement With Colombian Firm
--Tecnialambre will team with Richmond company to manufacture shopping carts--

Santiago, Chile - At a meeting yesterday at the Sheraton Hotel in Santiago, Chile, Governor Jim Gilmore announced that Richmond-based Rehrig International, Inc. has signed a licensing agreement with Tecnialambre, Ltda., a manufacturer based in Bogota, Colombia. The two companies will manufacture plastic shopping carts for the Latin America market. Governor Gilmore announced the agreement during his 13-day trade mission to Brazil, Chile and Argentina.

"This announcement confirms the high level of presence throughout the world for Virginia businesses," Governor Gilmore said. "Rehrig International is truly an outstanding corporate citizen in the Commonwealth, and this new partnership with Tecnialambre will help the company to succeed in the Latin American marketplace."

Rehrig International is the largest manufacturer of plastic shopping carts in the world and the largest manufacturer of shopping carts of any kind in the United States. With annual sales of over $50 million, the company employs nearly 500 people in the Richmond metropolitan area.

The company plans to ship plastic shopping cart components manufactured in Richmond to Colombia, where Tecnialambre will fabricate the metal chassis and assemble the finished cart. The finished products will then be shipped throughout the Andean market, which includes Colombia, Ecuador, Peru and Venezuela. Rehrig’s new joint venture in Colombia will serve as the prototype for other similar arrangements in Latin America. The Richmond firm has already received an export order for the carts from two new Home Depot stores in Chile.

"We are very excited about formalizing this partnership with Tecnialambre and look forward to expanding further throughout Latin America," Rehrig International President A.F. Young said. "This trade mission has been very helpful in introducing us to key retailers and prospective partners in Latin America."

"I am confident this partnership will be mutually beneficial to both Technialambre and Rehrig," Tecnialambre Commercial Manager Jorge Reines Volvitz added. "Today’s agreement is a prime example of our confidence in a successful Virginia business like Rehrig International."

As the first Virginia Governor to travel to South America for trade development purposes, Governor Gilmore has planned meetings with numerous South American government officials and business leaders in Brazil, Chile and Argentina. High profile events and prospect meetings in these countries will help open new markets for Virginia products and services, port activity and agriculture.



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