LJUNGSTRÖM and Shanghai Boiler Works finalize settlement agreement

February 28, 2024 11:00 AM AEDT | By Cision
Follow us on Google News: https://kalkinemedia.com/resources/assets/public/images/google-news.webp

WELLSVILLE, N.Y., Feb. 28, 2024 /PRNewswire/ -- LJUNGSTRÖM is pleased to announce that it has reached a settlement agreement with Shanghai Boiler Works Co. Ltd. (SBW) regarding the use of LJUNGSTRÖM's Air Preheater (APH) and Gas-Gas Heater (GGH) technology licensed to them in 2001. The settlement agreement does not provide SBW with rights to produce or sell the LJUNGSTRÖM's APH and GGH technologies developed after 2001. However, it does now provide certainty on what future use SBW can make of the LJUNGSTRÖM technology that was licensed to them.

With this new agreement LJUNGSTRÖM acknowledges that SBW's customers can engage them to:

1) provide aftermarket services for SBW's global installed base of APH & GGH
2) supply traditional new APH & GGH equipment for coal fired power generation projects both in China and overseas only when installed by a Chinese EPC company (Engineering, Procurement and Construction company)

"We look forward to working with SBW in future to explore opportunities to supply its customers with LJUNGSTRÖM's more efficient proprietary heating elements manufactured in our factory in Nantong, China." said Thomas Barwald, Managing Director of LJUNGSTRÖM China.

LJUNGSTRÖM continues to retain all its other rights globally to exclusively service our APH and GGH technologies across the many uses in the energy & environmental sectors, including any emerging industrial markets for our products.

About LJUNGSTRÖM
LJUNGSTRÖM, a division of the ARVOS Group, is a global leader providing innovative solutions to a diversified range of industries, with a focus on environmentally beneficial technologies to enable more efficient and cleaner operations. With a century of history in Wellsville, New York, LJUNGSTRÖM has a proven track record of expertise in engineering, manufacturing, and field services.

Related links:
https://www.ljungstrom.com


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (“Kalkine Media, we or us”), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content.
Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have made reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.

Two ASX Listed Stocks Giving Bullish Indications

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.