June 1, 2020 / 10:16 PM / a month ago

BRIEF-Leclanche Says Strategic Company Reorganization Along With Industrial Partnership Agreement With Eneris Group

June 1 (Reuters) - Leclanche Sa:

* STRATEGIC COMPANY REORGANIZATION ALONG WITH INDUSTRIAL PARTNERSHIP AGREEMENT WITH ENERIS GROUP

* ENERIS GROUP TO MAKE DIRECT INVESTMENTS TOTALING UP TO CHF 95 MILLION IN TWO MANUFACTURING JVS AND A TECHNOLOGY LICENSE AGREEMENT

* ENERIS TO PROVIDE UP TO CHF 42 MILLION IN WORKING CAPITAL LOANS

* LECLANCHÉ SHALL RETAIN ALL CUSTOMER CONTRACTS UNCHANGED

* LECLANCHE- ENERIS TO MAKE INVESTMENTS IN EXCESS OF CHF 53 MILLION IN A MAJOR CAPACITY EXPANSION PROGRAMME IN NEWLY ESTABLISHED JV WITH MAJORITY OWNERSHIP

* LECLANCHÉ GRANTS A LICENSE TO ENERIS FOR FURTHER DEVELOPMENT AND ACCESS TO LARGER SCALE INDUSTRIALIZATION

* MATERIAL REDUCTION FOR LECLANCHÉ IN CASH INTENSITY OF BUSINESS: REDUCED OPERATING AND CAPITAL EXPENSES

* LECLANCHÉ WILL RETAIN FULL OWNERSHIP OF ITS TECHNOLOGY AND WILL CONTINUE TO INVEST IN RESEARCH & DEVELOPMENT

* LICENSING OF LECLANCHÉ'S TECHNOLOGY TO ENERIS AGAINST PAYMENT OF A ROYALTY FEE OF UP TO CHF 32 MILLION Source text for Eikon: Further company coverage:

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