Joint Venture between Peaktop and Nelson

29.10.2001

L.R. Nelson Corporation and Peaktop Investment Holdings announce partnership, focusing on consumer demand for home and garden decorative products

L.R. Nelson Corporation and Peaktop Investment Holdings (BVI) Limited announced they will enter into a joint venture agreement, creating a new U.S. company devoted to the sales, marketing and distribution of decorative home and garden products. This new business will leverage the Nelson name and reputation, as well as its distribution network to expand sales in North America. The new partnership will serve as the exclusive importer, seller, marketer and distributor of certain lawn and garden products supplied by Peaktop and Heissner including, water garden products, outdoor water features, low voltage garden lighting accents, and garden decoration products.

Peaktop an Heissner manufactures, sells, markets and distributes a unique product line of home, lawn and garden products throughout Europe and Asia; and is the largest supplier of tabletop fountains in the U.S. market today. Peaktop is known for its unique designs of quality pumps and has an ability to bring decorative home watering products to market very quickly.

Since its founding in 1911, L.R. Nelson Corporation has become a leading manufacturer of a complete line of lawn and garden watering products. In 2000, Nelson introduced a line of decorative sprinklers known as its Garden Garnish' product line to enhance lawns and gardens.

Nelson President & COO Rick Keup stated, "This is a very exciting and significant venture for Nelson that will allow us to work with one of the world's largest and best suppliers of quality water pumps and outdoor decorative products. In addition, it is a great opportunity for both parties to build brand awareness in the home and garden decorative market, as well as expand North American sales."

"We are very pleased to partner with Nelson, to be able to utilize the Nelson name and reputation for quality, along with its superior distribution network," added Peaktop Group Chairman and CEO, C.K. Lin. "By working together, we will develop a greater product line for consumers in North America to enhance the beauty and personal enjoyment of their outdoor living areas."

L.R. Nelson Corporation is a leading manufacturer of lawn and garden watering equipment, as well as components for professional and in-ground irrigation systems. The company's corporate headquarters are located in Peoria, Illinois. Peaktop, with its headquarters in Hong Kong, manufactures in China and developes and distributes technical products through its European companies Heissner AG (Germany), Peaktop Europe (Germany) and Peaktop Technologies (Italy).

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