Autonov signs £1.35m contract
Norfolk-based driveline specialist, Antonov plc, has signed a £1.35 million agreement with Emporio International Sarl for the exclusive German distribution and commercialisation rights of its AMM Technology and Supercharger drives.The agreement covers the resale of Antonov’s 2-Speed Supercharger drive system to tuning companies and dealers and a sales agreement for Emporio to seek licensees for this and other AMM (Antonov Mechanical Module) applications such as the 2-speed Front End Accessory Drive.
Under the terms of the agreement, Emporio will pay a total of €2m (£1.35m) over the next 18 months for the exclusive access to the German market.
The start of payments is linked to the satisfactory completion of the production testing.
This is scheduled to be complete in March 2007.
In addition to its existing contacts within the German performance and tuning sector, Emporio will make its own investment in developing the market through sales and marketing allied to investment in application engineering for the Antonov technology.