Brief: Esautomotion To Set Up Joint Venture For Production In China

Esautomotion SpA

06/06/2019 09:14

June 6 (Reuters) - Esautomotion SpA  ESAU.MI :
    * SIGNS LETTER OF INTENT WITH GRUPPO SANGALLI SERVOMOTORI TO SET UP JOINT VENTURE IN CHINA
    * JV AIM IS TO START PRODUCING IN CHINA
    * SEES START OF JV BY YEAR-END, LETTER OF INTENT ENVISAGES SPECIAL CONDITIONS FOR SUPPLY AS
OF
JULY
    * CEO SAYS JOINT VENTURE WILL ALLOW TO DOUBLE REVENUE PER UNIT SOLD
    * CEO SAYS THAT YTD (BEFORE JV) ONLY 50% OF NUMERIC CONTROL MACHINES SOLD HAS ESAUTOMOTION
MOTORS

Source text for Eikon:  ID:nBIA8vlkmX 
Further company coverage:  ESAU.MI 

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