Tallahassee, FL 2/10/12 (StreetBeat) -- Cono Italiano, Inc. (OTCBB: CNOZ), the exclusive license holder for the North American Distribution and Manufacturing rights for "pizza cono," a one-of-a-kind, drip-free, cone-shaped pizza made from proprietary dough and manufacturer of frozen foods, is pleased to announce a distribution agreement with Spuntibreak Srl and Ashcroft Management Ltd.Spuntibreak is the owner of the pizza cone designs, recipes and technology to be distributed to the quick service market. Under terms of the agreement Ashcroft Management Ltd. becomes an official distributor of Spuntibreak Srl products-Cono Italiano Inc. For its part, Spuntibreak-Cono Italiano Inc. agrees to produce private label pizza cone product for Ashcroft Management Ltd.
Other specifics of the distribution agreement include:
- Spuntibreak-Cono Italiano Inc. commits to design and manufacture products for Ashcroft Management Ltd. in compliance with legal requirements and regulations in force at the date of the Order of command concerned as well as standards and specifications laid down by the competent authorities, particularly in respect to the manufacturing standard ISO 9001.
- Spuntibreak-Cono Italiano delivers "ex works" -- all the objects of the Order Products Order within 20 work days from the date of the Order to ensure packaging of products under its responsibility. Spuntibreak-Cono Italiano Inc agrees to send Ashcroft Management Ltd., written confirmation of availability of products within factory, five days prior.
- Prices specified in the agreement are "global", "flat" and "firm". Prices may be revised annually without exceeding the 10% increase compared to previous price.
- During the five year term of the agreement, Spuntibreak-Cono Italiano Inc. agrees not to supply any Ashcroft Management Ltd. products produced by Spuntibreak- Cono Italiano Inc. to any customer or client of Ashcroft Management Ltd.
- Ashcroft Management Ltd. undertakes to order minimum 1 pallet of "pizza cone" products monthly.
About Cono Italiano, Inc.
Cono Italiano, Inc. owns the North American distribution and manufacturing rights for Pizza Cono. This Pizza Cone is designed to be a drip free, spill free cone-shaped pizza made of proprietary dough and filled with freshly selected ingredients. The Company intends that the Pizza Cone will be distributed through the fast food market. The Pizza Cone will be distributed to quick-service restaurants (QSR), takeaways, and leisure locations. These establishments include typical fast food chains, supermarkets, convenience stores, entertainment facilities and sports arenas.
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