iQ Power Licensing AG

iQ Power ECO batteries to be sold in Bridgestone outlets in the UAE

Business news for the stock market

Zug (pta024/30.08.2016/10:35) - ,

* Sales Kick-off for Al Masaood Group, the authorized Bridgestone Distributor in The Emirate of Abu Dhabi, UAE
* Al Masaood to takeover sales of the ECO brand from Omeir Bin Youssef Group
* New 12 month fleet test to be performed in taxi application

Zug, Switzerland / Abi Dhabi, 30 August 2016 - iQ Power Licensing AG (ISIN: CH0268536338; WKN/Security Number: A14M1C; Symbol: IQL) a developer and marketer of technologies for environmentally friendly and technologically innovative starter batteries for motor vehicles and licenses in these technologies, reports on a further significant sales achievement in the Middle East.

iQ Power announces the start of sales of their ECO brand batteries with incorporated innovative electrolyte mixing technology in Al-Masaood Bridgestone Autocare outlets in the United Arab Emirates (UAE). Al-Masaood Tyres & Accessories Division, a division of the Al-Masaood Group (AMG) headquartered in Abu Dhabi, will be the key distributor for iQ Power ECO batteries in the United Arab Emirates. AMG has Bridgestone retail outlets and service centers in all key locations in The Emirate of Abu Dhabi, Al Ain & Western Region and has established wholesale & Retail customers in Abu Dhabi, Dubai and the Northern Emirates for Eco Series batteries.

AMG is a multi-billion dollar trading and service conglomerate with over 7.000 employees from 40 countries. The automotive division is the long-time exclusive certified dealer in the UAE for Nissan, Renault and Infiniti cars as well as Harley Davidson and Ducati motorbikes. Bridgestone tire is one of the most popular brands in the UAE and AMG has one of the most extensive networks of retail outlets and Tire Service Centers in the UAE.

Particularly remarkable is the fact that iQ Power ECO will be the premium battery brand sold at the Bridgestone retail outlets and service centers operated by AMG, and will replace another popular Brand of Batteries which AMG used to sell through their outlets.

AMG became attracted to the iQ Power ECO brand battery due to the confidence and faith in the impressive MIXTECH technology of iQ Power premium batteries. After Omeir bin Youssef approached AMG to distribute & sell Eco Series batteries through their Al-Masaood Bridgestone Autocare outlets, AMG seized the opportunity to obtain the Master Distributor rights to sell the ECO brand. The two esteemed groups mutually agreed that AMG would take over the business as their infrastructure, experience and longer tradition in automotive parts, were better suited to quickly grow sales volume for the product. Also, AMG has an extensive history in supplying vehicles and parts to the UAE government and military, ECO Series batteries with MIXTECH are a perfect fit for these fleets as they increase productivity gains and reduce costs.