Industrial
Concrete Products Bhd (ICP) is entering into a joint venture
for the production of concrete products in Bai Jiao Zhen,
Zhuhai City in Guangdong province, China.
In a statement on
June 11, ICP said it had entered into a shareholders agreement
to invest up to 71% in the proposed JV company ICP Zhuhai Co
Ltd.
The other
shareholders are Guangzhou Mechanical & Electrical Group
Holding Co Ltd (8%), Zhuhai Hoston Special Materials Co Ltd
(12%), CHEC Guangzhou Port Construction Company (6%) and
Masterich Ltd (3%).
ICP said ICP
Zhuhai would have a paid-up capital of 80 million yuan (about
RM36.7 million).
It said a
technology transfer agreement and a royalty agreement would be
executed to transfer technology to ICP Zhuhai to make
pretensioned spun concrete piles of up to 1,200mm diameter and
up to 50m in length for a transfer fee of about RM3.90
million.
ICP said royalty
of up to 2% of turnover would be payable by ICP Zhuhai to ICP
for using its trademark and logo for promotion of its
products. The technology fee and royalty are subject to
approval by the Chinese authorities.
Published by the 
group of companies 
