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7 months ago
BRIEF-Biohit: Ownership arrangement in Chinese JV, 2017 operating result to be positive
January 2, 2017 / 7:47 AM / 7 months ago

BRIEF-Biohit: Ownership arrangement in Chinese JV, 2017 operating result to be positive

1 Min Read

Jan 2 (Reuters) - Biohit Oyj :

* Signs ownership agreement with Anhui Wisdom-Win Investment Co. regarding Chinese joint venture (JV), Biohit Healthcare (Hefei) Co. Ltd

* Agreement regards reduction of JV share capital for amount equal to Biohit Oyj's shareholding of 40 pct

* Estimates its operating result to turn clearly positive for 2017

* Has signed license and distribution agreement with Biohit Healthcare (Hefei) Co. Ltd

* Biohit Healthcare (Hefei) Co. Ltd receives rights to manufacture and sell GastroPanel product in China, Macao and Hongkong and use Biohit Oyj's trademarks

* In consideration for rights, Biohit Oyj receives royalty calculated from GastroPanel product net sales of Biohit Healthcare (Hefei) Co. Ltd throughout duration of agreement

* License and distribution agreement remains in force for at least 15 years Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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