Komet signs a production agreement with a subcontractor for the manufacture of bathroom vanity products and kitchen cabinets, an

MONTREAL, March 31 /CNW/ -- 
The Company has realigned its strategic direction to focus on the marketing
and distribution of bathroom vanity products and kitchen cabinets


MONTREAL, March 31 /CNW Telbec/ - Komet Manufacturers Inc., "Komet"
 (TSXV: AQD), today announced the sale of all of its manufacturing
 equipment to a specialized kitchen manufacturer for $350,000. The sale
 agreement was signed on March 15 and is conditional on the latter
 securing $350,000 in financing before May 1, 2011.


When filing Komet's financial statements for December 31, 2010, senior
 management indicated that the Company had suffered a significant
 reduction in sales following the loss of their biggest client. Despite
 efforts to develop new products (bathroom vanity furniture) and a new
 product line (kitchen cabinets), the Company has not been able to
 compensate for the significant drop in sales.


Following this drop in sales over last two quarters, Komet carried out a
 review of its strategic direction and made the decision to streamline
 its manufacturing operations in order to remain competitive. To this
 end, the Company will now rely on a manufacturing subcontractor and
 cease all production activities as of Friday, April 29, 2011. The
 subcontracting agreement, which includes the sale of Komet equipment to
 the subcontractor, was signed with the objective of benefiting from the
 expertise of a manufacturing specialist in bathroom vanity products and
 kitchen cabinets. The Company will now focus solely on the distribution
 and marketing of these products to establish a clear path to
 profitability and further develop the market.


Production staff was notified on March 21 of final layoffs, which take
 effect at the end of April in line with the cessation of all production
 activities.


About Komet
Komet, a Quebec corporation headquartered in Blainville, has been listed
 on the TSX Venture Exchange since June 2007. The Company specializes in
 designing and manufacturing bathroom furniture products, which are
 marketed under the Aquadis brand name. The company also manufactures
 kitchen cabinets for builders and consumers.


The TSX Venture Exchange has not approved this press release and does
 not accept responsibility for the authenticity or accuracy of the
 information contained in the release.


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p Msupe/sup Frédéric Bérardbr/ Special Advisorbr/ HKDP Communications and public affairsbr/ [phone] extension 259br/ a href="mailto:[e-mail]"[e-mail]/a /p 

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