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(Yicai Global) Feb. 5 -- Shenzhen Ledman Optoelectronic Co., a Chinese manufacturer of LED displays wins a USD93.6 million supply contract from the UK publishing services firm CC Media Group, a milestone in the firm's efforts to expand its business overseas.
The London-based firm will purchase LED-based products from Shenzhen Ledman totaling 8,000 square-meters over the coming five years, the company said in a statement.
CC Media will purchase LED-based products totaling 5,000 square-meters over the coming 24 months and a further 1,000 square-meters of products annually in the three years after.
The contract will be valid for ten years, the announcement indicates. However, it is unclear if both parties will make any agreement on purchase volumes in the latter five years of the contract.
CC Media will make a prepayment of USD2 million prior to the commencement of the first order, and deliveries for the first three orders will not take place until Shenzhen Ledman receives the full order amounts, the announcement said.