7 months ago
Lloyds Engineering Signs Purchase Deal with US Firm
Lloyds Engineering, an Indian company, has signed a deal with a US company called The Material Works (TMW).
They agreed to use TMW's special technology to make and sell a product called EPS Gen 4 cells.
These cells help clean steel without using harmful acids, which is good for the environment.
The deal lets Lloyds Engineering sell these cells everywhere except a few places like China and some areas near Red Bud, Illinois.
They will pay TMW some money every year and also provide some extra payments.
The deal is not with any related parties, and both companies will work together to improve the technology and sell more products.
Lloyds Engineering has signed a purchase agreement with US-based The Material Works (TMW).
The agreement involves the use of TMW's patented Eco Pickled Surface (EPS) Generation 4 technology.
Lloyds Engineering will design, manufacture, and sell EPS Gen 4 cells globally, excluding specific regions.
The deal includes annual cash payments and earn-out payments to TMW, along with technical support and training.
The EPS Gen 4 technology offers acid-free steel surface cleaning, using recyclable materials and resulting in zero effluent discharge.
- Who
- Lloyds Engineering Works and The Material Works Limited (TMW)
- What
- Purchase agreement for EPS Gen 4 technology
- Where
- Global, excluding China, Macao, Hong Kong, Taiwan, and within a 350-mile radius of Red Bud, Illinois
- When
- January 10
- Why
- To design, manufacture, and sell Eco Pickled Surface (EPS) Generation 4 cells using TMW’s patented technology
Key facts
- Companies Involved
- Lloyds Engineering Works and The Material Works Limited (TMW)
- Agreement Date
- January 10
- Technology Involved
- Eco Pickled Surface (EPS) Generation 4 cells
- Geographical Exclusions
- China, Macao, Hong Kong, Taiwan, and within a 350-mile radius of Red Bud, Illinois
- Payment Structure
- Annual cash payments and agreed earn-out payments
- Technology Benefits
- Acid-free steel surface cleaning, recyclable materials, zero effluent discharge
- Regulatory Filing
- Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Sources
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