China Keli signs with Siemens

This agreement involves disclosure of Siemens-owned intellectual property to Zhuhai Keli Electric Co Ltd., the operating subsidiary of Keli, and conveys to Keli the right to manufacture and sell the Siemens-designed SIVACON 8PT switchgear. It acknowledges that Keli is an authorized licensee of Siemens for the LV SIVACON switchboards. The agreement, which will be renewed annually provided Keli complies with the terms, recognizes that Keli has appropriate high quality manufacturing facilities and quality control procedures to comply with the stringent requirements for the manufacture of Siemens-designed electrical equipment. Siemens and Keli have agreed to some production and sales targets, which increase substantially over the first four years of the agreement, and will bring increased revenues to both companies. "We are proud and honored to be chosen by Siemens, which is so well known for its innovative and high-quality products, and to be authorized for the manufacture of their SIVACON 8PT products," said Lou Meng Cheong, Keli's CEO. "This agreement will increase Keli's market competitiveness in our core business, and help to make a meaningful contribution to revenues and corporate earnings." "Keli has always focused on quality and innovation," said Madame Wong, Keli's Chairperson, "and we are very pleased to be working with Siemens which has similar product design and manufacturing values."