18.11.2003: Meldung: Solar Energy Systems to enter China
The MOU proposes that the two companies locate the lowest cost manufacturers of Sun Mill components in China, as well as investigating the possibility of Chinese product assembly. "While progress is at an early stage, this MOU is an ideal strategy to lower the Company"s production costs while simultaneously opening up major potential in overseas markets through improved price competitiveness, both within China and for export into other international markets, particularly in the developing world." SES Managing Director, Anthony Maslin, said. "By forming this key strategic partnership, it is envisaged that SES will leverage off SWAG"s strong network in China to create significant new distribution opportunities. This MOU will also create new possibilities for becoming involved in various Aid Projects within China," he said. "Over the coming months, SES and SWAG will seek out suppliers in China that not only produce quality, competitively priced goods, but also adhere to internationally accepted social and environmental standards."
As part of the agreement, SWAG has committed to undertake research into the Chinese market for Sun Mill and will assist with the location of component suppliers and assembly operation opportunities.
Sino West Assets Group is a Beijing-based advisory and venture capital group with extensive experience in assisting foreign companies to enter and profit from the China market. SES is the first Australia-based company with which SWAG has signed an MOU. Previously the group has worked mainly with European and American clients. SWAG General Manager, Jiang Jing said: "Everyone is well aware of the potential of the Chinese market. The key for foreign companies is to enter the market in an appropriate and cost effective way. We believe that SES" products and philosophy will be successful in China and look forward to working with them."
Some 50 million people live in West China, many of whom do not have access to piped drinking water. The region hosts vast mineral resources and is expected to undergo significant improvements in the standard of living as a result of funding from the Chinese government and international resource companies.
ABOUT SINO WEST ASSETS GROUP
Sino West Assets Group (SWAG) has been working with foreign companies in China for more than 10 years. The group recently expanded its operations and took on a venture capital role based on the belief that sharing in the risk and reward of their partners" success is the best way to ensure high-level service and proper alignment of interests. The group has worked with companies in the aircraft, resources, and manufacturing and construction industries.
SES was established in January 1999 and listed on the ASX in December 2000 after a successful $5 million initial public offering. SES manufactures and installs innovative solar water pumping and purification technologies used in the agricultural and mining sectors, by remote communities and by foreign aid groups. SES has also recently launched a Consulting Services and Project Management business to provide sustainable water and power solutions to both the domestic and international markets. A third business, Solar Energy Systems Infrastructure Pty Ltd, is investigating opportunities to sell water from SES"s Solarflow and other decentralised infrastructure systems for remote applications in the international market.
For more information:
Anthony Maslin SES Managing Director (08) 9204-1521
0438 142 268