CARLSBAD, Calif., May 15 (UPI) -- Xenonics Holdings Inc., a producer of low-light and night-vision products, has appointed a Saudi Arabian company as its exclusive international agent.
Under their agreement, Saudi International Military Services Ltd, is to pay an undisclosed fee to Xenonics for the exclusivity as well as fees based on the volume of its sales of Exenonics products.
The arrangement is for an initial period of three years with automatic renewals for three-year periods barring a non-renewal notice from either party.
"We look forward to developing a strong relationship with SIMS and we believe we found the right international partner," said Alan Magerman, chairman of Xenonics Holdings. "This is a significant relationship for Xenonics."
Xenonics produces lightweight ultra-high-intensity illumination and low-light vision products for use by military services, law enforcement and public safety agencies and for the commercial market.
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