By NZPA
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Tuesday 23rd July 2002 |
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Lowes, the number two hardware retailer in the US, has appointed a project manager to evaluate the product, which creates a 3D image of potential bathroom and kitchen layouts, with a view to using the software in all its stores.
Lowes has 900 stores across the US and annual sales of $US19 billion ($NZ39.40 billion).
Darren Wallbank, Straightedge's general manager, said the Lowes deal would be worth eight figures if the company decides to roll out Virtual Worlds in all of its stores.
"It would provide over 50 percent of Virtual World's projections for the next two years," he said.
In other North American developments, Straightedge said today US retailer, Menards, the country's number three hardware chain, is piloting Straightedge's Biz-e Builder product in their central estimating department, while timber giant Weyerhauser is sizing up its Tadpole software product.
The Straightedge division is currently the target of shell company Straightedge Ltd, in its bid to graduate from the Stock Exchange's New Capital Market to the main board.
Straightedge Ltd shareholders last month approved the purchase or "key transaction". A Subsequent Public Offer (SPO) of 11 million shares, at 50 cents each, to raise the $4.1 million purchase price and additional working capital -- a total of $5.5 million -- began earlier this month. The offer closes on Friday.
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