Sales Representation Agreement for Ceramic and Silicon Carbide Sales in China and Taiwan
09 March 2022
Haydale, (AIM: HAYD), the global advanced materials group, is pleased to announce that it has signed a sales representation agreement ("the Agreement") with Hainan Hongshida Information Technology Co., Ltd., ("Hongshida"). The Agreement is for an initial period of two years and allows Hongshida to act as a non-exclusive sales representative for Haydale's ceramic and silicon carbide products in China (including Hong Kong) and Taiwan.
Under the Agreement, Hongshida has agreed to purchase a minimum of 200 kg of product from Haydale within the first year of the agreement increasing to 5,000 kg in the second year. If all volume commitments are met, the minimum value of the contract would be $1.14 million but may be considerably higher depending on the product mix. The Company anticipates that the sales would mainly fall into the financial year ending June 2024.
Hongshida, located in China’s new free trade zone of Hainan Province, provides engineering and technology solutions across equipment manufacturing, electronic components, and machinery to customers in the Chinese civilian aviation and other industrial sectors.
Keith Broadbent, Haydale CEO, said: "We are pleased to announce this Agreement and believe the new market opportunities offered by Hongshida provides further evidence of the solid commercial prospects for the ceramic and silicon carbide products manufactured at our US facility within these markets."
Mr Wang Guodong, Hongshida CEO, said “Hongshida is delighted to be working with Haydale and this Agreement will allow us to provide customers with ceramic and silicon carbide products in China and Taiwan.”
For further information:
|Haydale Graphene Industries plc|
|Keith Broadbent, CEO|
Sarah Thomas, Group Marketing Manager
|Tel: +44 (0) 1269 842 946|
|finnCap (Nominated Adviser & Broker)|
|Julian Blunt/Edward Whiley, Corporate Finance|
Andrew Burdis, ECM
Tel: +44 (0) 20 7220 0500
Notes to Editors
Haydale is a global technologies group and service provider that facilitates the integration of graphene and other nanomaterials into the next generation of industrial materials and commercial technologies. With expertise in graphene, other nanomaterials, and Silicon Carbide, Haydale can deliver improvements in electrical, thermal, and mechanical properties, Haydale has been granted patents for its technologies in Europe, USA, Australia, Japan, and China and operates from five sites in the UK, USA, and the Far East. For more information please visit: www.haydale.com or Twitter: @haydalegraphene
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identiﬁed by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', ''will'' or the negative of those, variations, or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital, and other expenditures (including the amount, nature, and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reﬂect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.
A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses and other factors, many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Subject to any continuing obligations under applicable law or any relevant AIM Rule requirements, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.