-------------------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------------------
Company Information
01.03.2007
Saarbrücken - March 01, 2007. ItN Nanovation AG (ISIN DE000A0JL461) has signed a binding termsheet with the Chinese company Suntar Membrane Technology Co. Ltd. concerning the foundation of two joint ventures: one is planned for the production and distribution of ceramic tube filter membranes. ItN Nanovation will hold 50.1 percent of shares in the distribution company and 49.9 percent of shares in the production company. The final realization of these plans is subject to approval by various Chinese authorities. Should the authorization process run according to schedule, the joint ventures will commence operations by the first quarter of 2008 at the latest.
With these joint venture plans, ItN Nanovation will gain access to the attractive Asian market while making use of even more reasonably priced production possibilities for ceramic filter membranes. This means that ItN Nanovation can combine the clearly superior product properties of ceramic membranes compared to the polymeric filter membranes still predominantly in use with a distinctly more attractive price structure. Suntar Ltd. is a wholly-owned subsidiary of Sinomem Technology Ltd., a leading supplier of membrane technology listed on the Singapore stock exchange.
end of announcement euro adhoc 01.03.2007 10:48:05 --------------------------------------------------------------------------------
ots Originaltext: ItN Nanovation AG Im Internet recherchierbar: http://www.presseportal.de
Further inquiry note: Andreas Kuntz Investor & Public Relations Manager Tel.: +49 (0)681 5001 - 467 E-Mail: andreas.kuntz@itn-nanovation.com
Branche: Technology ISIN: DE000A0JL461 WKN: A0JL46 Index: CDAX, Prime All Share, Technologie All Share Börsen: Frankfurter Wertpapierbörse / regulated dealing/prime standard Börse Berlin-Bremen / free trade Baden-Württembergische Wertpapierbörse / free trade Börse Düsseldorf / free trade Bayerische Börse / free trade
