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EVZ LIMITED — Capital/Financing Update 2022
Nov 30, 2022
64889_rns_2022-11-30_c2ebb961-256b-465e-8814-eadb8f1f666e.pdf
Capital/Financing Update
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1 December 2022
The Manager Market Announcements Office Level 4, North Tower, Rialto 525 Collins Street MELBOURNE VIC 3000
SYFON ASIA EXPANSION INDONESIAN LICENSE AGREEMENT
EVZ Limited (ASX:EVZ, 'the Company') a leading provider of innovative engineering solutions, is pleased to announce the expansion of Syfon Systems in South East Asia through execution of a new license agreement ('Agreement') with PT. Wahana Duta Jaya Rucika ('Rucika').
Rucika was founded in 1973 and is the largest plumbing pipe manufacturer and distributor in Indonesia with production facilities and distribution channels spread across the archipelago.
The signing of the Agreement is strategic and material to Syfon’s growth objectives in Asia given the positive demand driven by the ongoing social infrastructure build. This Agreement will allow Syfon to leverage Rucika’s extensive network throughout Indonesia to deliver scale and growth in the region. The Agreement is structured to allow Rucika to market, sell and support jointly branded Syfon - Rucika products and systems across the Republic of Indonesia.
The Company will derive revenue from the Agreement through a fixed and variable fee structure that will grow proportionally as sales in the geography expands to fill the demand. The Agreement is scheduled to commence on 1 December 2022 for a five-year duration, with an option to extend upon conclusion.
EVZ Chief Executive Officer, Scott Farthing said;
“We are exceptionally pleased to leverage our relationship with Rucika to commence a formal licensing agreement for Syfon’s range of products in the Indonesian market. As a business we continue to see strong demand for construction and infrastructure projects across Asia, which in turn will drive demand for our industry leading Syfon roof drainage systems.”
For further information please contact.
Scott Farthing Chief Executive Officer EVZ Limited T: +61 9545 5288 M: +61 41111 7403 [email protected]
EVZ Limited
ABN 87 010 550 357
115 | 838 Collins Street, Melbourne VIC 3008 Australia T: +61 3 9545 5288 www.evz.com.au
About EVZ Limited
EVZ Limited is an industrial group with a portfolio of specialist businesses in the engineering services sector. EVZ operates in the areas of mechanical engineering services, bulk tank design and construction, syfonic storm water and roof drainage, water storage tanks and distributed and renewable power generation through subsidiaries, Brockman Engineering, Syfon Systems, Tank Industries and TSF Power. www.evz.com.au
EVZ Limited
ABN 87 010 550 357
115 | 838 Collins Street, Melbourne VIC 3008 Australia
T: +61 3 9545 5288