Brazilian Group Orders 2,255 Evader Electric Scooters
Evader is pleased to announce that the Garini Group of Brazil has placed their initial order for 2,255 units for shipment to the Evader/Garini assembly plant in Manaus, Brazil.The bikes, which represent revenues of BRL 12,269,500 (Brazilian Reais) (US$5,112,000) and which will be shipped in CKD (Complete Knockdown) form, are expected to start to ship to Manaus before the end of October or early November. The scooters will be assembled within the free zone in Manaus to take advantage of huge government incentives that significantly reduce their import duty.
“This is very exciting news for us and our shareholders,” said Julio de Almeida, Evader’s President of the Latin American Region. “This is only the first of many major orders now being scheduled for Brazil. Evader is proud to be one of Garini’s leading suppliers.”“We are ready to go! Our assembly plant will be up and running by November 30, 2005” said Alceu Aragao, the President and CEO of the Garini Group of companies. “Garini offers the highest quality and best value to the Brazilian consumer. Our partnership with Evader will allow us to rely on high quality products for the years to come.”
This first order of bikes is intended for distribution in the Brazilian market only and is secured by a letter of credit from Garini. The Garini Group is expecting orders to begin materializing for the rest of South America within the next 90-120 days.About Brazil
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