DGAP-News: SMT Scharf AG / Key word(s): Letter of Intent
SMT Scharf AG enters into partnership with Polymetal to develop underground electric vehicles (EVs)
- Agreement on partnership for at least ten years
- Cooperation in the development, implementation and testing of zero-emission BEVs
- Concentration on mid-range LHDs and trucks
- Potential widening of partnership to include other commercial vehicles
Hamm, August 19, 2020 - SMT Scharf AG (WKN 575198, ISIN DE0005751986), one of the world's leading suppliers of customised transport solutions and logistics systems for underground mining, has signed a Memorandum of Understanding ("MoU") with gold and silver producer Polymetal International plc. (Saint Petersburg). The partnership focuses on strategic cooperation in the development of underground electric vehicles (EVs).
According to the current plans as part of the Memorandum of Understanding, the joint development, implementation and testing of zero-emission BEVs (battery electric vehicles) is to commence with immediate effect. The first step of the partnership will focus on mid-range LHDs (load, haul, dump machines) and trucks. In the future, the partnership could also encompass other commercial vehicles.
After development, the vehicles are to be tested in a one-year phase at Polymetal. Further joint redesigns, the signing of a distribution agreement, and the establishment of a joint customer service centre are also planned for the future.
The strategic partnership is planned for a ten-year period with the possibility of a further extension. "We are pleased about our strategic partnership with Polymetal and their interest in BEVs. This partnership enables us to jointly pursue a sustainable approach to reducing greenhouse gases," notes Hans Joachim Theiss, CEO of SMT Scharf AG.
|Company:||SMT Scharf AG|
|Phone:||+49 2381 960-01|
|Fax:||+49 2381 960-311|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1120395|
|End of News||DGAP News Service|