Current report 49/2018 (11.04.2018)
Title:
Conclusion of a cooperation agreement with z Guangdong Jianglong Agricultural Machinery Technology Co., Ltd.
Legal basis:
Art. 17 sec. 1 Market Abuse Regulation
Message:
The Management Board of URSUS S.A. hereby informs that on the 11th April 2016 URSUS S.A. concluded with the Chinese company Guangdong Jianglong Agricultural Machinery Technology Co., Ltd. (JML) with the seat in Guangzhou a general cooperation agreement for sales, assembly and manufacturing of agriculture tractors and machinery as well as import of parts and components from China, together with a general import agreement, a general agreement for tractors assembly and a general agreement for components supply.
On the basis of the concluded agreements the Parties start a cooperation, the terms of which shall be agreed in the further current relationship, which mainly shall consist of:
- sales by URSUS to JML of agrciultural tractors and machinery and their resale by JML in the territory of China (including Hong Kong and Macao),
- launching by JML in cooperation with URSUS of assembly of tractors URSUS in China,
- sales by JML to URSUS of partes and components which may be used by URSUS in its own operation.
Besides the Issuer shall provide the Chinese partner with trainings and technical assistance necessary in the process of manufacturing, assembly and servicing URSUS products.
The Parties agreed also that JML shall start production of transmissions of URSUS tractors, based on the technical documentation supplied by URSUS.
The terms of use by JML of the trademark URSUS, know-how and the technical documentation of tractors shall be defined by the Pareties in a separate licence agreement.
According to the agreement provisions, JML is obliged to do market reseasrch for tractors and agricultural machinery in China in order to prepare strategy for sales and marketing of URSUS products, as well as to adjust them to local market requirement.
The above-mentioned agreements were concluded fot the period of 10 years. The agreements shall be governed and construed in accordance with the laws of Switzerland.
The operation of the company Guangdong Jianglong Agricultural Machinery Technology Co., Ltd. (JML) is related to research and development of components used in the automotive sector, as well as development, manufacturing and sales of its own and its partners’ products. Thanks to the start of cooperation with JML the Issuer shall gain possibility of entering the prospective Chinese market, which is the next step in the international expansion of URSUS S.A.
