The two companies have formed a Joint Venture to be named
Aobo has now commenced use of its brand new manufacturing facility in
Building One and Two are used for air treatment products and energy storage products manufacturing respectively. Building Three is used for offices and product research and development.
Aobo has ceased to use its previously leased manufacturing facility.
Mr.
"SQYPT has significant experience and strength in the energy storage field. Aobo has worked successfully with SQYPT on projects in the past. It was a logical progression to combine our talents in the incorporation of AEST which now represents the beginning of closer cooperation between both parties, to further improve the Company's R&D capability in energy storage, strengthen our sales of energy storage products and expand the scale of our energy storage business. We envisage this will bring significant long-term benefits for Aobo shareholders".
"Aobo's manufacturing capacity was limited by its production floor area. With opening of the new facility, Aobo can increase its manufacturing capacity and enhance its operation efficiency".
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