PEN signs cooperation agreement with Loveoffice - a Haier Group affiliated company

PEN Concept Group AB (‘PEN’) has signed a cooperation agreement with Qingdao Loveoffice Integration Co., Ltd. (‘Loveoffice’) regarding design and product supply services within office environments.

PEN Concept Group has entered a cooperation agreement with Qingdao Loveoffice Integration, an affiliated company of Haier Group. The agreement is embracing strengthening of each parties’ brand name in two different directions: PEN is entitled to market, sell and distribute Loveoffice office turnkey Office interior packages including Smart Office solutions on the Scandinavian and Chinese market, while Loveoffice is to promote PEN design assignments and products throughout Loveoffice's Chinese distribution channels as well as its affiliated companies within Interior business.

Mr Johan Burtus, CEO at PEN Concept Group AB, explains:
“The cooperation agreement with Loveoffice has strong potential as we get access to an existing supply chain with potential customers via a strong business partner. This agreement also opens a new direction for us as we gradually will engage in industrial design efforts to promote own product brands.”

For any inquiry regarding this transaction, kindly contact:
Johan Burtus, CEO, PEN Concept Group AB
E-mail: johan.burtus@pen.se
Phone: +46 738 000 460

This information is insider information that PEN Concept Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication trough the agency of the contact person set out above, on August 4, 2017.

PEN Concept Group in brief
PEN Concept Group AB, ‘PEN’, is a turnkey supplier of interior products and solutions for shops, exhibitions, events, restaurants and showrooms. The group coordinates all required resources to offer customers both standard and customized interior solutions, including large scale productions. The Swedish operations is channelled through the subsidiaries PEN Interiör AB in Jönköping, PEN Shop Concept AB in Lerum and Goods Sweden AB in Växjö. The group also has a production facility, Oboya Shop Concept Ltd., in Qingdao, China.

Qingdao Loveoffice Integration in brief
Qingdao Loveoffice Integration Co., Ltd. (‘Loveoffice’), is a Haier Group affiliated company. Loveoffice is designing, building and offering turnkey office solutions including but not limited to furniture, entrance systems and office-IT solutions.

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About Us

PEN Concept Group AB, ‘PEN’, is a turnkey supplier of interior products and solutions for shops, exhibitions, events, restaurants and showrooms. The group coordinates all required resources to offer customers both standard and customized interior solutions, including large scale productions. The Swedish operations is channelled through the subsidiaries PEN Interiör AB in Jönköping, PEN Shop Concept AB in Lerum and Goods Sweden AB in Växjö. The group also has a production facility, Oboya Shop Concept Ltd., in Qingdao, China. www.pen.se

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