Menu Close

The signing of a significant agreement

The signing of a significant agreement

Date of publication: 02.11.2015

On 2nd of November 2015 the company PROCHEM S.A. signed the agreement with „Synthos Dwory 7” Sp. z o.o. s.j.

The contract covers the design work using 3D modeling as well as the EPCM services (Engineering, Procurement, Construction Management) for Installation for “A technology demonstration for the production of innovative polystyrene materials with reduced coefficient of thermal conductivity, containing athermanous additive”.

The value of the contract − PLN 10 418 100 (gross) in the part concerning lump sum.
Time limit for completion – approx. 26 months from the date of the signing of the agreement.

The agreement contains provisions relating to contractual penalties, their value is limited to 20% of net remuneration. Each party shall be entitled to seek compensation on general principles above the amount of contractual penalties but no more than 30% of net remuneration.

The agreement was considered significant as the value of the agreement may exceed 10% of the Issuer’s equity.