PEN signs cooperation agreement with Tus Space

PEN Concept Group has signed a cooperation agreement with Tus Space, part of Tus Holdings, regarding promoting Nordic design excellence and thereto related services and supply of products.

The cooperation agreement between PEN Concept Group and Tus Space contains several important commitments and responsibilities. Firstly, PEN and Tus shall jointly promote establishment of a Nordic design center in China, targeting to provide sharing and development of Nordic design skills and abilities. Moreover, PEN Concept Group shall provide services related to interior design and product supply for Chinese domestic incubator office premises, controlled by Tus Space.

Mr Johan Burtus, CEO at PEN Concept Group AB, explains:

“This cooperation agreement is a result of fruitful collaboration and negotiations by the PEN China Launching Team, which was established early June this year. We are delighted to strengthen our cooperation with Tus Holdings and look forward to promptly engage in business development activities.”

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 3, 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.

TUS Holdings in brief
Tus-Holdings Co.,Ltd. (hereinafter referred to Tus-Holdings), set up on July 24, 2000, is the former Tsinghua University Science Park (TusPark) Development Center founded in August 1994. Tus-Holdings is a large integrated enterprise established in reliance on Tsinghua University. It takes full responsibility for developing, constructing, operating and managing TusPark which has more than 6 million m2 office spaces, and it’s one of the first National Demonstration Enterprises in modern service industry. It is the controlling shareholder or shareholder of over 500 listed and non-listed enterprises, including Tus-Guhan Group Co., Ltd. (stock code number: 000590), Tus-Sound Environmental Resources Co., Ltd (stock code number: 000826, 21Vianet Group, Inc. (NASDAQ: VNET), ChineseAll (stock code number: 300364) TUS International Limited (Hong Kong Mainboard:00872·HK) and Tus-Design Group (stock code number: 300500). The total assets under its management have exceeded RMB 160 billion.

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About Us

PEN Concept Group AB, headquartered in Jönköping, Sweden, 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, PEN Shop Concept AB and GOODS Sweden AB. The group also has a production and distribution facility, Qingdao Oboya Shop Concept Co., Ltd. in China. The PEN brand represents solid know-how and experience in design, engineering, production and installation services for exhibitions, restaurants and retail customers. The GOODS brand covers a turnkey product range for restaurant businesses, including kitchen machinery, furniture and utensils.www.pen.se www.goods.se