LED International, a company involved in the development, manufacture, and sale of led module and other led products, has said its subsidiary, Shenzhen Strongbase, has been awarded a contract by a Chinese company for the supply of one set of reactance filtering equipment.
The contract is expected to generate LED revenue of around £152,000.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
It is expected that the reactance filtering equipment will deliver energy consumption savings of at least 10% to CNPC. The company expects the work to be completed by the start of December at the latest.
Strongbase will receive 90% of its payment within one year and begin a three-year warranty period.
LED's Chief Executive Officer, Stephen Chan, said: "We are very pleased to secure this supply contract of reactance filtering equipment to CNPC Xinjiang, one of the giant state-owned enterprises in the country, that we consider vital to our successful penetration to the emerging energy-savings market together with continuing implementation of energy management contract business model in China."
NR
-
Could your family be at risk of an unexpected tax bill? How to keep your loved ones in the loopMany families are out of the loop when it comes to planning the financial aspects of both retirement and inheritance
-
Rightmove: Glut of homes for sale in southern England drives asking price dropAsking prices are 0.1% lower than a year ago, according to the property website, driven by challenges in affordability-stretched London and the south
