HoA with DHF not extended
N.B. The English text is an in-house translation of the original Swedish text. Should there be any disparities between the Swedish and the English text, the Swedish text shall prevail.
The political and economic sanctions applied on Iran by the US are preventing the renewal of the HoA between Scandinavian Enviro Systems (publ) ("Enviro") and German company DHF Development in regards of the potential project for an indefinite time. There is an unchanged interest from the parties to nurture the relationship for the future in order to explore potential plant projects in the region.
"Enviro has been strengthening the position in both Canada and the US lately and will need to focus on those strategic markets along with European projects. The US market is of great importance to the Carbon Black and Rubber industry and due to our significant progress there, we are not willing to compromise the potential due to the current status of international politics," says Thomas Sörensson, Enviro CEO.
Both parties are looking forward to a time with less international political uncertainties and where the region will continue to prosper and grow as it has proven before.
For more information, please contact:
Thomas Sörensson, CEO Enviro, tel: +46 (0)735-10 53 43, firstname.lastname@example.org
Urban Folcker, CFO Enviro, +46 (0)760 00 13 11, email@example.com
Alf Blomqvist, Chairman of the Board, Enviro, tel: +46 (0)733 149 700, firstname.lastname@example.org
Mangold Fondkommission AB is the Certified Adviser of Enviro at Nasdaq First North Stockholm.
This information is information that Scandinavian Enviro Systems AB (publ) is required to publish under the EU regulation on market abuse. The information is provided under the auspices of the contact person listed above for publication on October 7th, 2018 at 12.30 CET.