China Keli Announces Product Manufacturing/Sales License Agreement with Siemens
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/09/13 -- China
Keli Electric Co., Ltd. (TSX VENTURE:ZKL) ("Keli" or the "Company")
is pleased to announce that it has signed a Product Manufacturing and
sales license agreement with Siemens Ltd., China.
This agreement involves disclosure of Siemens-owned intellectual
property to Zhuhai Keli Electric Co Ltd., the operating subsidiary of
Keli, and conveys to Keli the right to manufacture and sell the
Siemens-designed SIVACON 8PT switchgear. It acknowledges that Keli is
an authorized licensee of Siemens for the LV SIVACON switchboards.
The agreement, which will be renewed annually provided Keli complies
with the terms, recognizes that Keli has appropriate high quality
manufacturing facilities and quality control procedures to comply
with the stringent requirements for the manufacture of
Siemens-designed electrical equipment. Siemens and Keli have agreed
to some production and sales targets, which increase substantially
over the first four years of the agreement, and will bring increased
revenues to both companies.
"We are proud and honored to be chosen by Siemens, which is so well
known for its innovative and high-quality products, and to be
authorized for the manufacture of their SIVACON 8PT products," said
Lou Meng Cheong, Keli's CEO. "This agreement will increase Keli's
market competitiveness in our core business, and help to make a
meaningful contribution to revenues and corporate earnings."
"Keli has always focused on quality and innovation," said Madame
Wong, Keli's Chairperson, "and we are very pleased to be working with
Siemens which has similar product design and manufacturing values."
About China Keli Electric Company Ltd.
China Keli Electric Company Ltd. specializes in the manufacturing of
electrical components and equipment, including pre-assembled mini
substations, electrical controllers, pressurized and vacuumed
switchgear and circuit breakers.
This press release contains forward-looking statements based on
current expectations. These forward-looking statements entail various
risks and uncertainties that could cause actual results to differ
materially from those reflected in these forward-looking statements.
uncertainties about Keli's business are more fully
discussed in the Company's disclosure materials filed with the
securities regulatory authorities in Canada. All amounts are stated
in Canadian dollars unless noted otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this press
China Keli Electric Company Ltd.
EVP Finance and Corporate Development
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