Great Wall Builders, operating as "Start Technologies Europe s.r.o.", today announced it received confirmation of a EURO 40 million bank guarantee from Banca Nazionale del Lavoro SPA - Gruppo BNP Paribas (BNL) as part of the company’s international distribution Coopsette Soc Coop contract, which Start signed last month for its Start Fuel Efficiency and Emission Device (FEED) units.
The contract calls for a minimum purchase of EURO 120 million of the company’s Start FEED units in the first three years, with units delivered quarterly.
Start Technologies Europe, a wholly owned subsidiary of GWBU, will manufacture the units.
"The BNL Bank Guarantee will allow the company to facilitate the manufacturing and production of the Start FEED units to facilitate the Coopsette order," GWBU president and CEO Daniele Brazzi stated in the press release. "The BNL relationship has opened a world of possibilities for our company. We are very excited to enter the next phase of growth for the company and will continue to provide regular updates to our potential clients and shareholders."
Start said it soon will file an 8k public disclosure with the Securities and Exchange Commission.
For more information visit www.StartTechnologiesCorp.com
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