PAQ Paq Intl

    RNS Number : 3981L
  PAQ International Holdings Limited
  09 January 2009
   

    9 January 2009

    PAQ International Holdings Limited ("PAQ")

    Joint Venture Agreement with Fabazio re: footballers image rights

    PAQ International Holdings Limited ("PAQ" or "the Company") is a manufacturer and distributor of protective bags for mobile phones,
laptops and other electrical devices, which are manufactured in the People's Republic of China ("PRC") and distributed in the PRC and in
many other international locations. 

    PAQ is pleased to announce that it has entered into a joint venture agreement ("JV") with Fobazo (www.fobazo.com ), a company that
specialises in the exclusive image and signature rights ("Rights") for a host of the biggest names in international soccer. The exclusive
Rights effectively allow the JV to carry the image of the footballer and their signature across a range of products including PAQ
merchandise. 

    PAQ and Fobazo will create a new JV company in which PAQ will have a majority holding of 51% in return for manufacturing, distributing
and marketing the products bearing the exclusive Rights. The JV will initially seek to distribute the PAQ merchandise carrying the Rights to
the Greater China market given the current focus of PAQ in those markets. However, the JV is entitled to distribute the exclusive Rights to
unlimited markets around the world. PAQ is currently finalising due diligence with regard to the exclusive Rights.

    The JV includes Rights to the following football players:  Ryan Miguel Guno ("Babel"), C?ro Jo?de C?re ('Cicinho'), Roberto ("Mancini"),
Lu?Fabiano Clemente, Christian Bager Poulsen, ("Ronaldo") Luis Naz?o de Lima, Hugo Morais, Rafael van der Vaart, Wensley Sneijder, John
Gijsbert Alan Heitinga, Clarence ("Seedorf"), Robson de Souza ('Robinho'), Anderson Luis de Souza ('Deco'), Anderson Lu?de Abreu Oliveira,
and Samuel ("Eto'o").

    Relocation of Factory

    Meanwhile, PAQ is relocating its factory in Shenzhen Baoan to Foshan Guangdong, as part of the reorganization exercise of the production
facilities. The relocation is aimed at better management of the production facilities and supply chain as the new location will be closer to
major material suppliers and OEM subcontractors. 

    The new location is logistically well positioned, which will enable the Company to supply bags and computer accessories to China and
help deliver its strategic aim of developing China's domestic market in 2009.  

    Kelvin Yau, Chief Executive, comments:

    "I am delighted that we have been able to form a joint venture which gives us access to so many of the top names in world soccer, which
fits in well with our aim to build PAQ as a brand-orientated and higher value-added businesses, and not just a manufacturing business." 



    ENQUIRIES:

    PAQ International Holdings                  Tel: +852 9135 1811
    Kelvin Yau, Chief Executive                         www.paq-intl.com
    Dennis Ow

    Zimmerman Adams                                Tel: +44 (0) 20 7060 1760      
    Dominique Doussot/Jonathan Evans            www.zimmint.com

    College Hill                                            Tel: +44 (0) 20 7457 2020
    Gareth David

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
JVESSUFSUSUSELF

Paq Intl (LSE:PAQ)
Historical Stock Chart
Von Mai 2024 bis Jun 2024

Paq Intl (LSE:PAQ)
Historical Stock Chart
Von Jun 2023 bis Jun 2024