LeBOJ
25-03-2004, 02:53 PM
GENERAL: MSL: Mooring Secures European Licence Deal
Mooring Systems Limited (MSL) is pleased to announce to shareholders that it
has signed an exclusive 10 year Licence Agreement with Cavotec Group Holdings
NV (Cavotec), based in the Netherlands, to use MSL's Intellectual Property to
market, manufacture, install and service Mooring Units in Europe.
The Cavotec Group is a multi national organisation with 24 sales and
manufacturing companies servicing more than 30 countries over 5 continents.
Cavotec specialises in innovative solutions related to power supply and crane
technologies with 35% of sales turnover port and shipping terminal related.
The European Licence deal provides for an initial trial period during which
time each party will have the opportunity to work collaboratively and review
progress prior to the commencement of the extended licence term. As part of
the agreement MSL will receive an annual non-refundable licence fee, plus an
equal share in all profits generated from sales within the region.
MSL has also signed a Heads of Agreement with Cavotec that, pending a
successful trial period, will open for discussion the opportunity for Cavotec
to provide limited worldwide representation for MSL.
According to Peter Montgomery, Managing Director of MSL, "The licence
agreement and sales potential generated by Cavotec for MSL is extremely
exciting. The agreement represents a cornerstone strategy for the
commercialisation of MSL's products internationally. We are very pleased to
be working with a company that has a very similar culture and shares our
strong values relating to absolute integrity and sound governance. I firmly
believe the relationship with Cavotec will provide substantial commercial
benefits to both companies as we progress."
Stefan Widegren, Chairman & CEO of the Cavotec Group, confirms that the deal
opens up significant opportunities for both Cavotec and MSL. He said, "MSL's
automated vacuum mooring technology is an important new product advance for
the port and shipping industry and for Cavotec. We are very positive about
the relationship with MSL, and anticipate strong market interest and sales
potential for the mooring units in Europe and worldwide."
Mooring Systems Limited (MSL) is pleased to announce to shareholders that it
has signed an exclusive 10 year Licence Agreement with Cavotec Group Holdings
NV (Cavotec), based in the Netherlands, to use MSL's Intellectual Property to
market, manufacture, install and service Mooring Units in Europe.
The Cavotec Group is a multi national organisation with 24 sales and
manufacturing companies servicing more than 30 countries over 5 continents.
Cavotec specialises in innovative solutions related to power supply and crane
technologies with 35% of sales turnover port and shipping terminal related.
The European Licence deal provides for an initial trial period during which
time each party will have the opportunity to work collaboratively and review
progress prior to the commencement of the extended licence term. As part of
the agreement MSL will receive an annual non-refundable licence fee, plus an
equal share in all profits generated from sales within the region.
MSL has also signed a Heads of Agreement with Cavotec that, pending a
successful trial period, will open for discussion the opportunity for Cavotec
to provide limited worldwide representation for MSL.
According to Peter Montgomery, Managing Director of MSL, "The licence
agreement and sales potential generated by Cavotec for MSL is extremely
exciting. The agreement represents a cornerstone strategy for the
commercialisation of MSL's products internationally. We are very pleased to
be working with a company that has a very similar culture and shares our
strong values relating to absolute integrity and sound governance. I firmly
believe the relationship with Cavotec will provide substantial commercial
benefits to both companies as we progress."
Stefan Widegren, Chairman & CEO of the Cavotec Group, confirms that the deal
opens up significant opportunities for both Cavotec and MSL. He said, "MSL's
automated vacuum mooring technology is an important new product advance for
the port and shipping industry and for Cavotec. We are very positive about
the relationship with MSL, and anticipate strong market interest and sales
potential for the mooring units in Europe and worldwide."