BVI-formed Greenford Trading makes licensing deal with Genesis Worldwide
Greenford Trading, a newly-incorporated British Virgin Islands company belonging to the Russian investment and development company ArianaInterProject, has concluded a deal with Genesis Worldwide Inc.
According to the deal, Genesis Worldwide received license to build three light steel panel manufacturing plants in Russia over the next two-and-a-half years. Genesis said it will produce steel paneled structures using the Genesis Solution, which includes leading-edge software, industrial equipment, hardware, processes and engineering services.
The initial revenue of Genesis Worldwide will be 4 million USD from licensing its technology, the sale of industrial equipment and hardware, various training and consulting services required for the commissioning of the first plant. The licensed company will earn similar revenue from the commissioning of each of the two additional plants, which are projected to be commissioned by July 1, 2009, and July 1, 2010, with the revenue recognized at such time. Also, over the next five years, Genesis will earn minimum of 4.1 mln USD in royalty fees.