George Wilson Industries – indirect subsidiary has concluded important contract
The Management Board of Apator SA („the Issuer”) announces that on 1st September 2015, indirect subsidiary of the Issuer – George Wilson Industries Ltd. („GWi”) and Landis+Gyr concluded the contract of the estimated total value of EUR 8 mln. The subject of the contract is the supply of smart C&I gas meters to the Dutch market. The supply will be performed in years 2016-2020.
The Issuer announces that conditions of the above contract do not differ from typical conditions for such transactions on the market.
The guarantee period for the products to be delivered is six years and within this period GWi is obliged to make free replacement of faulty meters plus paying a pre-agreed amount in order to cover direct damages caused by the faulty meter. However the GWi total liability for direct damages is limited to the amount of EUR 5 mln.
The contract does not include provisions regarding reservations of condition or date.
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