MoU with Gerdau S.A. to Open Up American Markets to PureGRAPH®
HIGHLIGHTS
Gerdau S.A. to be the exclusive distributor for FGR’s range of products in defined territories and end applications in the Americas.
Distribution territories will include Brazil, South America and potentially the USA
NYSE-listed Gerdau (NYSE:GGB) is Brazil's largest steel producer and one of the leading producers of long steel in the Americas and of special steel in the world, First Graphene Ltd (ASX: “FGR” or “the Company”, is pleased to announce it has
entered into a Memorandum of Understanding (“MoU” with Gerdau S.A. (“Gerdau” for Gerdau to sell FGR’s graphene products and develop applications with these products in mutually agreed economic sectors and business areas.
Initially, the MoU is non-binding and allows the two companies to negotiate terms towards a binding agreement that will establish;
(i) an initial Commercial Agreement for distribution and collaboration, and
(ii) rules for a potential investment and share acquisition from Gerdau intoFGR, if predetermined sales and investment targets are achieved by
Gerdau. The Commercial Agreement will comprise an exclusivity for Gerdau to sell FGR graphene products and develop applications with these products in mutually agreed economic sectors and business areas.
The exclusivity to be defined will be in terms of geography, market and end application or use, defined as Territories for sale in the Americas region The two companies will collaborate to introduce graphene materials and graphene applications into the Americas market.
FGR will support Gerdau with its extensive application knowledge and technology focused on graphene dispersion in different matrixes and materials. In turn, Gerdau will invest and develop end-use application in the regions to which it is awarded distribution.
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MOU to break into USA market.. FGR looking to prove they are NO1 in the Global Graphene Space IMO, all coming together.
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