CF-MDT located at Zhong Hai Building, Binzhou
CF-MDT will provide products and services include electronic products / components, RFID products, RFID system integration and software design / development, sales, as well as providing technical consultancy, support and training.
The registered share capital of the newly formed JV Company is RMB$20m. During the first phase, MDT will invest RMB$2m in the form of cash and owns 40% of the shares. Capital will invest RMB$3m in the form of a factory property and owns 60% of the shares.
The key feature of an equity joint venture is that profits are shared in proportion to the parties' respective contributions to the registered share capital.
Both parties agree to work together to accomplish the objectives of RFID development, production, market exploitation and attraction of investment. Besides, both parties will combine strength to strive for the China government special RFID R&D funding.
MDT will play the role of providing the latest RFID technologies and attracting overseas investment for the development of Binzhou RFID Technology Park. Capital Information will continue its commercial exploitation locally in China to provide market resources and use its existing technologies background to provide the essential technical support for the market development.
500 acreages of land is authorised to CF-MDT for the purpose of investment attraction from overseas. Further 100 acreages of land (worth of RMB$110,000 per acreage) is authorised to MDT for the development of R&D facilities and infrastructure of RFID technologies.
