ClearVue broadens market presence with Chinese deal
Solar window glass innovator, ClearVue Technologies, has broadened its presence in the burgeoning Chinese construction supply industry after signing a manufacturing agreement with Chinese aluminium window and door manufacturer, Jiangsu YY Windows and Curtain Wall System Company.
Under the terms of original equipment manufacturing agreement, YY Windows will be able to manufacture and sell ClearVue’s solar powered insulated glass units either under its own name or through its licensed distributors.
The Chinese company, along with its associated outfit, Shanghai YY Construction Co, is a leading manufacturer of aluminium double and triple glazed windows, with Australian and New Zealand markets making up around 80% of its business.
YY Windows also has a small, but significant retail presence in New South Wales.
Under the terms of the new agreement, YY Windows will produce ClearVue’s solar-powered window glass panels and finished window products exclusively for ClearVue and its chosen licensed distributors.
It will also manufacture ClearVue’s products at approved plants.
In addition, YY Windows will only purchase core components for making ClearVue’s window panels and finished windows from ClearVue licensed and authorised component suppliers.
Finished product pricing will then be agreed upon and reviewed quarterly based on volumes sold.
Importantly, ClearVue will retain all current and future intellectual property and YY Windows will be contractually prohibited from challenging ClearVue’s intellectual property or reverse engineering any components.
ASX listed ClearVue has developed advanced electricity-generating glass technology that preserves glass transparency and maintains building aesthetics whilst harnessing the sun’s power to produce energy.
This latest manufacturing agreement will no doubt help secure its position as a leader in the use of glass in the renewables field, in what is most likely the world’s largest construction market.
ClearVue Executive Chairman Victor Rosenberg said: “YY Windows and Curtain Wall Systems operates a new RMB 360 million state-of-the-art production and fabrication facility with a total production floor area of over 40,000 square metres in Jiangsu near the port of Shanghai.”
“YY Windows already have extensive experience in exporting their high-quality window products to Australia, New Zealand and the United States.”
General Manager of Jiangsu YY Windows and Curtain Wall Systems Bo Li said: “This is a new and very exciting area for us and fits very nicely with our existing export business to Australia and around the world.”
“We look forward to a long future with ClearVue as our new partner.”
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