Advanced materials company Haydale Graphene has signed a sales representation agreement with Qinhuangdao ENO High-Tech Material Development Company, it announced on Thursday.
The AIM-traded firm said the deal was for an initial period of two years, and would allow ENO to act as a sales representative for Haydale’s ceramic and silicon carbide products in China, including Hong Kong, and Taiwan.
Under the agreement, ENO expected to buy at least $0.3m of product from Haydale within the first year of the agreement, increasing to $0.5m in the second year.
The first order under the deal for $23,000 had already been received by Haydale, for immediate shipment.
“We are pleased to announce this agreement and believe the new market opportunities offered by ENO will provide solid commercial prospects for our ceramic and silicon carbide products within these markets,” said chief executive officer Keith Broadbent.
At 1545 GMT, shares in Haydale Graphene were down 3.75% at 5.64p.
