National Tyre & Wheel Limited (ASX: NTD) has advised that a back dated distribution agreement with Mickey Thompson Tires Wheels (MT) was varied by a mutual consent. The agreement was entered by company’s subsidiary – Exclusive Tyre Distributors (ETD).
- Yearly targets would be negotiated annually, and any agreed forecast would be reviewed quarterly.
- It allows ETD to exclusively import and market products from MT in ANZ and Papua New Guinea.
- Previously, NTD had presented its intentions to market products from low-cost Asian manufacturers to target the SUV vehicle segment.
By 1:08 AEDT, NTD was trading at $0.45, no change from the previous close.
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