Asia Cork Inc. (Xi'an, China) will sell cork products in the U.S. through a partnership with Ferma Wood Flooring (Edison, N.J.), according to a release. The joint venture company will be called Elegant Cork and market products under the "Elegant Cork" and "Green Cork" brands. The products will reach the market through Ferma Wood's distribution channel. In the first half of 2011, Elegant Cork will carry 10 cork products in quantities of no less than 30,000 to 50,000 square feet; estimated annual sales are around $3 million to $5 million.
"We have long planned to enter into North American and other developed countries' markets to further utilize our cost advantage," Chen Peng Cheng, CEO of Asia Cork, said in the release. "We are also optimistic with the U.S. market demand given the competitive high quality and lower prices of our products compared to other similar products in the market."
