28th Apr 2021 17:58
DeepVerge PLC - York-based life science company - Signs memorandum of understanding with China Resources Environmental Protection Development Ltd, which is pat of China Resources Group, to form a joint venture for the manufacture and sale of environmental monitoring equipment.
The JV is expected to be signed by June 30, and become operational be September 1. DeepVerge would hold a 49% stake, and China Resources the remaining 51%.
"A joint venture with a division of one of the world's largest natural resource groups can meet the growing demand for manufacturing and assembly of existing Microtox and Microtrace equipment for environmental monitoring across the rest of the world, that is struggling to manage a global health pandemic," says Chief Executive Officer Gerard Brandon.
Current stock price: 33.45 pence, up 4.4%
Year-to-date change: up 7.9%
By Dayo Laniyan; [email protected]
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