Tall Order: In what it called its...
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Tall Order: In what it called its largest sale to date, Parker Automotive Corp. of Costa Mesa said Tuesday that it has received an order for more than $8.5 million of its products for distribution throughout the Soviet Union. The order was placed by Poly-Ker Co. of Budapest, Hungary, and is to be shipped by Jan. 1. Parker said it is to be paid in U.S. dollars through a wire transfer or irrevocable letter of credit from Poly-Ker. Diane Parker, a Parker Automotive vice president, said the company and Poly-Ker are also negotiating a distribution agreement in which the Hungarian firm would receive rights to distribute about $35-million worth of Parker CarbonClean products in the Soviet Union during 1991. A letter of intent signed by Poly-Ker’s managing director calls for a formal distribution contract to be executed by Nov. 10, Parker said. Parker Automotive manufactures a proprietary system for cleaning internal combustion engine fuel systems to reduce emissions and improve fuel economy and engine performance.
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