Agreement
(Series
No.:yefj-2005-02)
Party
A:
Xi’an
Yongchun Science & Technology Development Co., Ltd.
Party
B:
Xi’an
Amorphous Alloy Zhongxi Transformer Co., Ltd.
Whereas,
1.
Party
A is constructing” Yongchun Science & Technology Industry Centre”, it
locates Xi’an Hi-tech Industries Development Zone with good investment
environment;
2.
Party
B is a specialized manufacturer for producing amorphous metal distribution
transformer core (hereinafter referred to as “AMDT-core”) with most advanced
technology, and they are planning to construct “product line of 5 thousand tons
capability per year for AMDT-core”. (hereinafter referred to as “product
line”)
3.
The
amorphous metal ribbon (hereinafter referred to as “ribbon”) is necessary raw
material for making amorphous metal distribution transformer(hereinafter
referred to as “AMDT”), which is the most advanced and energy-saving transformer
nowadays, the perspective of potential market is prosperous. This project
complies with the investment project of “ Yongchun Science & Technology
Industry Centre”, it will be the largest AMDT-core production basis after it
completed.
After
friendly negotiation between Party A and Party B regarding “ Party B invest and
establish the product line in Party A’s “Yongchun Science & Technology
Industry Centre”, and made the agreement as follows:
1
The two
parties agreed that Party B will invest and establish the product line in Party
A’s “Yongchun Science & Technology Industry Centre”. Party A is responsible
for designing the workshop(1600 square meter), office building and
infrastructure( the detailed requirement of design will be provided by Party
B)
in this centre.
2.
Party
A agreed Party B can purchase the workshop with the favorable price XXX
0000/xxxxxx meter after the completion of factory building; or Party B can
lease
the workshop( the rental fee is RMB25/squre meter per month at the first five
years, and rental period is no less than 10 years.)
3.
Party
B should pay the construction fee RMB 4.9 million to Party A after signed this
agreement within 30 days, this payment will be reversed the purchase fee (
rental fee) when Party B purchase or (rent) the workshop.
4.
During
the performance of this construction, Party A should return Party B’s
construction fee if Party A failed to fulfill this agreement, and also should
compensate for Party B’s loss based on 10% of the construction fee; if Party B
failed to fulfill this agreement, Party A should return Party B’s construction
fee, and also 20% of construction fee should be deducted by Party A as
compensation for Party A’s losses.
5.
The
two parties promise they will follow the agreement, they will negotiate timely
if any emergency occurred. If any supplementary agreement is need, they will
make the supplementary agreement.
6.
Any
disputes, controversies or differences which may arise between two Parties
shall
be settled through negotiation. If failed to make a consent, the two Parties
are
entitled to xxx for people’s court.
7.
The
agreement have 2 original, and it will be effective after signed and sealed
by
the two parties and also Party B’s construction fee is received by Party A.
Party
A:
Xi’an
Yongchun Science & Technology Development Co., Ltd. (seal)
Representative:
Party
B:
Xi’an
Amorphous Alloy Zhongxi Transformer Co., Ltd. (seal)
Representative:
August
20, 2005