Memorandum Of Understanding For Appointment Of Sole Distributor
BackAug 01, 2005
The Board of Directors of HG Metal Manufacturing Limited ("the Company") is pleased to announce that the Company has entered into a Memorandum of Understanding with FerroChina Limited's subsidiary, Changshu Xingdao Advanced Building-Material Co.,Ltd. on 1 August 2005 for the purpose of appointing the Company as the sole distributor for FerroChina Limited Group for the region of Singapore and Indonesia for a duration of 3 years from the date of agreement.
The Company will also explore the possibility of extending our cooperation to other countries in the region with FerroChina Limited Group.
None of the directors and substantial shareholders has any interest in the transaction proposed in the Memorandum of Understanding.
The Company will make further announcement in relation to the Memorandum of Understanding as and when the terms are finalised.
Submitted by Wee Piew, Chief Executive Officer, on 1 August 2005 on behalf of HG Metal Manufacturing Limited