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ARCTIC GLACIER SIGNS FRANCHISE AGREEMENT WITH GETCHELL BROS.
INC. OF BREWER, MAINE
Agreement expands presence in New England market
WINNIPEG, April 7, 2003 - Arctic Glacier Income Fund (TSX-AG.UN)
announced today that Ice Perfection Systems Inc., a subsidiary of
its operating company Arctic Glacier Inc., has signed a franchise
agreement with packaged ice manufacturer Getchell Bros. Inc. of
Brewer, Maine.
In business for more than 115 years, Getchell Bros. Inc. is one
of the largest packaged ice companies in the northeastern United
States. Getchell manufactures its ice products in Brewer and Sanford,
Maine, distributing them throughout Maine and other parts of New
England. Under the agreement, Getchell Bros. will produce and market
its branded packaged ice products as Arctic Glacier® Premium
Ice.
"Getchell Bros. Inc. is the second significant franchise agreement
signed in the northeastern United States in the past two months.
We are extremely pleased to have a market leader like Getchell Bros.
become part of the Arctic Glacier network," said Robert Nagy,
President and CEO, Arctic Glacier Income Fund. "Developing
a strong market presence in this key market area of the United States
is an important step in our objective of establishing Arctic Glacier®
Premium Ice as a recognized brand across North America."
"Development of a recognized branded product throughout numerous
North American markets is not only logical but well overdue for
our industry," added Doug Farnham, President of Getchell Bros.
"We believe Arctic Glacier Inc. has a sound long term strategy,
is financially solid, has a consistent standard of quality controls
and products, and has the leadership and direction to continually
build on their proven success. The growth opportunity of the branded
Arctic Glacier® Premium Ice product will be advantageous to
us and our customers, now and in the future. We look forward to
being a part of building a branded product in the Northeast as well
as nationally."
Ice Perfection Systems Inc., established in 2000, licenses the right
to use the trademark Arctic Glacier® Premium Ice from its parent
company, Arctic Glacier Inc. Ice Perfection also maintains a North
American franchising program in which it enters into agreements
with qualified ice manufacturers that meet its quality standards
to package and distribute ice products under the brand name Arctic
Glacier® Premium Ice throughout specific territories within
Canada and the United States.
Arctic Glacier Income Fund, through its operating company, Arctic
Glacier Inc., is a leading producer, marketer and distributor of
high-quality packaged ice in North America under the brand name
of Arctic Glacier® Premium Ice. Arctic Glacier operates 16 production
plants and 35 distribution facilities across Canada and the central
United States servicing 35,000 retail accounts.
Arctic Glacier Income Fund trust units are listed on the Toronto
Stock Exchange under the trading symbol AG.UN. There are 15.66 million
trust units outstanding.
Contact Information
For further information, call Arctic Glacier Inc. TOLL FREE at 1-888-573-9237
or log on at www.arcticglacierinc.com
(Signed) On behalf of the Board of Trustees of Arctic Glacier Income
Fund, Robert Nagy, Chairman & CEO.
The Toronto Stock Exchange does not approve or disapprove of the
adequacy or accuracy of this release.
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