Commodore International Corp and Asiarim Corporation Announce Joint Venture Agreement and Exclusive Trademark License Agreement for Asia and Africa
Marketwire
Posted: 2009-01-07 07:00:00
http://tinyurl.com/8enyu4HONG KONG -- (Marketwire) -- 01/07/09 -- 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.comAbout 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
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CA 92610 United States of America
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Asiarim Corporation
Hong Kong, China
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