Plexus Holdings plc (AIM:POS) – significant licensing agreement signals the way ahead?
The framework agreement signed in Beijing with Yantai Jereh Oilfield Services Group Co., Ltd represents a big move for the Aberdeen based oil equipment group and offers a glimpse of possible future strategy.
Jereh is a the major Chinese oil services provider of integrated solutions of oilfield equipment and services, and the two parties will now work together to formalise a binding license agreement to enable Jereh to manufacture and sell Plexus’ wellhead equipment to the Chinese and wider Asian oil and gas markets. Jereh is a public company listed on the Shenzhen stock exchange with a market capitalisation of over US $5.8bn and 5,000 employees.
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