Obducat signs letter of intent regarding a JV with Asian LED player

The LoI concerns the formation of a joint venture and with that connected orders for five Sindre 400 NIL systems at a preliminary value of EUR 1 million each. The letter of intent – which is non-legally binding – confirms the mutual interest of continuing the already initiated work related to the formation of a joint venture. The preliminary activities to be conducted in this joint venture are development and production of new products and applications based on NIL technology, as well as manufacturing of lithography equipment for the Asian market. If the joint venture is successfully established the Asian company’s intention to place an order for five Sindre 400 NIL systems at a preliminary value of EUR 1 million each. The negotiations are expected to be completed during the first quarter 2017.