Commodore International Corp and Asiarim Corporation Announce Joint Venture Agreement and Exclusive Trademark License Agreement
January 07 2009 - 6:00AM
Marketwired
Commodore International Corporation (PINKSHEETS: CDRL) ("CIC") and
Asiarim Corporation (OTCBB: ARMC) ("Asiarim") announce today that
they have entered into a 50/50 joint venture agreement to
facilitate the manufacturing and distribution of a range of
computer products under the brand name of "Commodore" for the
territories of Asia and Africa.
Under the terms of the joint venture agreement and exclusive
trademark license agreement, CIC will contribute the exclusive
license brand to Asia and Africa for a period of 5 years plus an
automatic extension of a further 5 years, and Asiarim will
contribute up to a maximum of US$7 million. CIC shall also have the
right to exchange its 50% interests in the joint venture for 50%
interests in Asiarim, subject to the joint venture company
achieving certain sales conditions. The joint venture company shall
be responsible for providing sourcing and development of new
products for CIC and its affiliates worldwide, and the market and
distribution of Commodore branded products in Asia and Africa.
The first series of computer products will be the netbooks which
was recently unveiled at the IFA electronics show in Berlin. Mr.
Ben van Wijhe, President and CEO of CIC, states, "This opportunity
will allow both parties to integrate their strengths in order to
secure a successful business case in the fast growing market of low
cost netbooks and mobile internet devices. The management and
shareholders of Asiarim are very eager to introduce to the market
the new products and services exclusively developed for Commodore.
The initial reaction from the market is very positive and retailers
are willing to buy the new line of Commodore netbooks which
continue the tradition of the famous Commodore C64."
In a recent research report, notebook computers overtook the
desktop PC computers in Q3 08 by strong sales of the netbook
computer. Notebook PC shipments rose almost 40% in the third
quarter of 2008 compared to 2007. The total sales of notebooks and
netbooks reach about 38.6 million units in 2008 while the desktop
PC shipments for the same period declined by 1.3% to about 38.5
million units. Mr. Wijhe further added, "The netbook is a full
service internet device that is portable, affordable and
connectable for the new generation of people on the go."
Mr. Te Hwai Ho, President of Asiarim, stated, "We are thrilled
to be working with Commodore. This joint venture with CIC is an
excellent opportunity for the Company to diversify its business
scope to market and distribute the Commodore range of products in
Asia and Africa." Notebook PC shipments in China alone are
forecasted to reach about 8 million units in 2008. Mr. Ho added,
"China offers an exciting and challenging market with over 200
million internet users and many of whom will eventually shift to a
mobile internet device such as a netbook, providing a vast market
for Commodore range of computer products."
About Commodore International Corporation:
Commodore International Corporation (PINKSHEETS: CDRL) is a
creator, developer and provider of innovative digital media
services, software and mobile hardware products. Innovations such
as the CommodoreWorld(TM) multimedia platform and a premium
hardware product line, that opens up new opportunities for the
customization and share of media entertainment, such as music, TV
channels, movies and games. Commodore pursued an active licensing
policy and plans to continue to implement new strategic
partnerships for licensing and distribution opportunities.
Additional information on Commodore can be found at its website
at www.commodorecorp.com
About Asiarim Corporation:
Asiarim Corporation (OTCBB: ARMC) is a Nevada incorporated
company. Asiarim is a consultancy services company assisting small
to medium businesses to enter the USA markets.
Additional information concerning Asiarim can be found on its
website at www.asiarim.net.
Forward-Looking Statements:
A number of statements contained in this Report are
forward-looking statements that are made pursuant to the Safe
Harbor Provisions of the Private Securities Litigation Reform Act
of 1995. Certain written statements in this press release
constitute "forward-looking statements" as defined under the
Private Securities Litigation Reform Act of 1995. Words or phrases
such as "should result," "are expected to," "we anticipate," "we
estimate," "we project," "we intend," or similar expressions are
intended to identify forward-looking statements. Such statements
should not be construed as an invitation to participate in an
offering of shares in the capital of CIC or Asiarim or a
confirmation that an offering will indeed occur. These statements
are subject to certain risks and uncertainties that could cause
actual results to differ materially from those expressed in any
forward-looking statements. These risks and uncertainties include
demand for our services, product development, our ability to
maintain acceptable margins and control costs, the impact of
federal, state and local regulatory requirements on our business,
the impact of competition and the uncertainty of economic
conditions in general, including the timely development and market
acceptance of products, competitive market conditions, successful
integration of acquisitions, the ability to secure additional
sources of financing, the ability to reduce operating expenses, and
other factors. The actual results that the CIC or Asiarim achieves
may differ materially from any forward-looking statements due to
such risks and uncertainties. Readers are cautioned not to place
undue reliance on forward-looking statements, since the statements
speak only as of the date that they are made, and we undertake no
obligation to publicly update these statements based on events that
may occur after the date of this document.
Contact Commodore International Corporation 26741 Portola Pkwy
Ste. 1E#692 Foothill Ranch CA 92610 United States of America Email
: Email Contact Contact: Asiarim Corporation Hong Kong, China Email
Contact
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