Josab India void MoU with Greentech in Rajasthan, India

As previously informed in October 2015, Josab India signed a MoU with Greentech regarding deliveries and market cooperation in the state of Rajasthan, India. However, the MoU is void due to non-fulfillment of orders from Greentech and due to the parties not being able to negotiate for an exclusive agreement prior to the end of 2015. Cooperation related to Rajasthan will continue, but without exclusivity.

The MoU between Josab India Pvt. Ltd. and Greentech Pvt. Ltd., dated 8thof October 2015, stated that Josab was willing to engage Greentech as their exclusive sales and service agent in the region tied to an initial order of nine Josab Aqualite™ based ecological water treatment plants. The MoU stands void due to the non-fulfillment of orders from Greentech.

Stockholm 22nd of April 2016

For more information, please contact:

Johan Gillgren                                                                                                  Dennis Abraham
CEO Josab International AB                                                                                MD Josab India Pvt. Ltd.
+46 (0)8 121 389 00                                                                                            +91 8793 160092                                 
johan.gillgren@josab.com                                                                                   dennis.abraham@josab.com

About Josab International AB
Josab International AB manufactures and sells ecological water treatment solutions based on, by the company patented, unique filter material Aqualite™. Josab International AB has today five fully owned daughter companies, Josab Hungary Kft, Josab East Africa Ltd, Josab India Pvt Ltd, Josab China Ecological Water Treatment Systems Co Ltd and JOSINT Financial Services AB.