ASTRASUN Solar Plc. has informed investors on the website of the Budapest Stock Exchange that it signed a cooperation agreement with Műszertechnika-Holding Plc. and IK Metál Ltd. The aim of the agreement is to cooperate in the production of the necessary support structures for the installation of solar parks.
The cooperation is divided into three phases, which build on each other.
ASTRASUN Solar and IK Metal Ltd. have concluded a framework agreement under which IK Metal Ltd. will manufacture and sell to ASTRASUN Solar, on the basis of individual orders, the support structures required for the installation of solar parks. In this context, IK Metál will provide sufficient production capacity to meet the Issuer's current procurement needs and has undertaken to purchase the support structures required for the installation of the solar parks from IK Metál on an exclusive basis for this activity.
In the second phase of the cooperation, ASTRASUN Solar and Műszertechnika-Holding plan to establish a joint venture. The precondition for this is that during the first phase, ASTRASUN Solar and IK Metál Kft. have a turnover of at least HUF 50 million.
In the third phase of the cooperation, if the turnover of the trading activities of the joint venture to be established in the second phase exceeds HUF 1 billion, the parties will aim at establishing an independent joint venture on the market, which will be able to fulfil orders from other independent market participants.
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