Chinese LED Display Maker Expands Overseas With USD93 Million Contract in UK
Tang Shihua
DATE:  Feb 05 2018
/ SOURCE:  Yicai
Chinese LED Display Maker Expands Overseas With USD93 Million Contract in UK Chinese LED Display Maker Expands Overseas With USD93 Million Contract in UK

(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.

The total contract amount of USD93.6 million is the equivalent of 105 percent of Shenzhen Ledman's total audited revenue in 2016. The order will have a significant positive impact on the company's future business performance and contribute to the expansion of its brand influence both at home and abroad, the firm said. 
 
CC Media creates classified and display advertising pages for more than 200 magazine titles including single page monthly independents and 100 page weekly sections for global media firms.
Follow Yicai Global on
Keywords:   LED Display,CC (2018) MEDIA,British,Big Contract,Ledman