Holger Ruf, Head of Sales and Marketing at TECE Middle East, said, "Providing innovative and sustainable products is part of our philosophy, and with the experience and market penetration that Khimji Ramdas has in place, our products are upgraded with sustainable local service.
An excellent feature ofthe TECE cistern is its universality.
TECE Drainline Shower Channels come either with stainless steel/glass covers or with the 'plate' tileable channel where a plain slot in the floor is the only thing that can be seen.
Having developed a great technology platform has enabled TECE to attract a top notch executive to further nurture and propel the company to new heights," said Steve Saviuk, Chairman of Intasys Corporation.
Andre Telmosse's calibre and experience for this key position in the Company," said Claude Forget, Chairman of the Board for TECE.
Concurrently with this transaction, TECE has completed a private placement of US$4 million, issuing 1 million units to investors, each unit consisting of one share of TECE's common stock as well as one warrant entitling the holder thereof to purchase one share of TECE's common stock at a price of US$5.
Shares held by Intasys in TECE are subject to a minimum one-year hold period and subsequent dispositions of TECE shares by Intasys are subject to applicable regulatory limitations regarding resale.