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Message: Hanwei to exclusively sell FRP pipe equipment in India

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oilflow

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Hanwei to exclusively sell FRP pipe equipment in India

posted on Dec 18, 07 04:16AM

Hanwei Energy Services Corp. has entered into a licensing agreement with Concept Management Consulting Private Ltd. to provide high-pressure FRP (fibreglass reinforced plastic) pipe production equipment and technology for India. Per the terms of the agreement, Hanwei will receive a one-time licensing fee of $2.9-million in exchange for equipment and certain technology specific to the annual production of 400 kilometres of high-pressure FRP pipe, and a 10-year exclusive right to produce and sell the product in India. Delivery of the equipment is scheduled for the second quarter of 2008.

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