Irvine, California-based manufacturer MMFX Technologies Corporation announced Monday that it has entered into two long-term strategic agreements with its manufacturing partner, Cascade Steel Rolling Mills of McMinnville, Oregon--a subsidiary of Schnitzer Steel Industries.
Under terms announced by both parties, MMFX Technologies Corporation granted Cascade an exclusive technology license, enabling Cascade to both manufacture and sell MMFX corrosion-resistant rebar within the designated territory consisting of California, Washington, Oregon, Utah, Hawaii, Alaska, Idaho and Montana, as well as the Canadian provinces of British Columbia and Alberta. Cascade and MMFX will jointly cooperate to expand sales of MMFX steel products within this multi-state and province territory.
Separately, Cascade and MMFX Steel Corporation of America (subsidiary of MMFX Technologies Corporation) also entered into a Supply Agreement, extending the guaranteed source of MMFX steel products for sales outside the licensed territory.