CD International Enterprises, an industrial commodities producer and distributor in China and the Americas, today reports that its International Magnesium Group subsidiary (“IMG”) has entered into a five-year distribution deal with Manali Engineering, in which Manali will serve as a sales agent to market IMG’s magnesium products throughout India.
Manali Engineering, a division of heavy engineering equipment manufacturer Manali Group, has established a strong footprint in India’s industrial marketplace. The company is headquartered in Gurgaon (Haryana), India, with branch offices in Stockholm, Sweden, and Miami, Florida.
Demand for magnesium products exceeds 10,000 metric tons annually, and with India’s rapid economic expansion expected to continue to grow, CD International sees the distribution agreement as “a substantial expansion opportunity” for IMG to capitalize on strong magnesium demand in the country.
“We look forward to a successful partnership with Manali Engineering as we expand our magnesium distribution channels to India,” James Wang, chairman and CEO of CD International, stated in the news release. “India represents a major potential growth market for magnesium, especially in its rapidly expanding automobile industry. We intend to work diligently to support Manali Engineering in their efforts to help us achieve significant sales growth at IMG in fiscal 2014 and beyond.”
For more information, visit http://www.cdii.net
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