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Antonov signs Heads of Agreement for Production Licence with Geely for 6 Speed Automa

http://www.acspy.com/ShowNews.asp?Qiche_NewsId=360

The Board of Antonov plc, the automotive technology company, is very pleased to announce that it has signed Heads of Agreement for a Production Licence with Zhejiang Geely Automobile Gearbox Co., the transmission manufacturing subsidiary of Geely Automotive (“Geely”), one of China抯 leading vehicle manufacturers. The Licence would be for the production of the Company抯 TX6 six-speed automatic transmission.

The Board emphasises that a production licence agreement has not been signed with Geely at this stage but an announcement is being made due to certain shareholder speculation that the Board has become aware of.

Under the terms of the proposed production licence agreement, Antonov and Geely will work closely together in order to develop the TX6 to production to meet Geely抯 aggressive production timetable for its own vehicles and to make the transmission available to other vehicle makers worldwide. Under the terms of the proposed production licence agreement, Antonov will receive both Licence Fees and production royalties.

Geely have already taken two models of conventional automatic transmission to production and the Antonov TX6 will be an addition to this model line-up.

The Chairman of Antonov, Christopher Ross, has also been instrumental in securing the deal relating to LTI, between Geely and Manganese Bronze, where he is deputy chairman.

Mr. An, Conghui, Vice President of Geely Automotive said:

“Geely are pleased to have signed Heads of Agreement on this Production Licence for the Antonov Technology which will further strengthen Geely抯 transmission product range. We look forward to working with Antonov on their transmission technology.”

John Moore, CEO of Antonov plc, said:

“We are pleased to be working with Geely who have already developed their own transmissions and have the production infrastructure in place. This will enable a rapid programme to start of production.”

Geely is one of the leading Chinese Automotive companies and is listed at the Hong Kong stock exchange.
 

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Antonov signs gearbox production licence with Geely
15 January 2007

The board of Antonov plc is delighted to announce that it has signed a production licence agreement with Zhejiang Geely Automobile Gearbox Co., the transmission manufacturing subsidiary of Geely Automotive (‘Geely’). This follows the announcement on 27 November 2006 that Geely and Antonov had signed heads of agreement for the licence, which is for the production of the company’s TX6 six-speed automatic transmission.

Under the licence, Geely will have the non-exclusive worldwide rights to manufacture and sell transmissions covered by the Antonov 6-speed automatic patents and will also receive design support from Antonov.

Antonov will receive licence fees totalling Euro 900,000 payable over the next nine months and then a production royalty on each transmission produced.

Geely is one of China’s leading automotive companies and is listed on the Hong Kong stock exchange and currently produces around 200,000 cars per annum and continues to grow strongly. Both companies will be working together to incorporate the TX6 into a number of models with production commencing in 2008.

Geely has already taken two models of conventional automatic transmission to production and the Antonov TX6 will be an addition to this model line-up. The transmission will also be available to other vehicle makers worldwide.

John Moore, CEO of Antonov plc, said: “I am very pleased to be able to confirm this licence agreement. Geely has a strong track record in developing transmissions and their experience and established infrastructure will allow us to bring our technology to production rapidly. China is a key market for our technology and Geely provides an excellent customer reference site, which will underpin our commercialisation strategy in the region.”

Mr An Conghui, vice president of Geely Automotive, said: “Geely is delighted to have secured the Antonov TX6 licence which in turn has strengthened our transmission product range and enabled us to bring to market a vehicle which will incorporate Antonov technology delivering a compact and cost effective solution. We look forward to working with the Company closely as we move towards volume production in 2008.”
 

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Windy can you tell us what kind of track record Antonov has? Who uses its passenger car automatics?
I hope Geely has made the right choice.
 

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I don't think Antonov itself does any manufacturing, it produces designs and licenses the designs to others for manufacture. I assume this to be a good design since MG-Rover got as far as a working prototype of it, only stopping due to their own financial problems.

I hope Geely can do a good job of manufacturing it.
 

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Antonov hasn't sold or produced any gearbox yet, but they're still developing multiple types of gearboxes. Together with Geely, they are developing a 6-speed (TX6). Antonov has developed a 2-speed gearbox for a supercharger of Rotrex as well. They are trying to sell it thru Emporio in Germany and Wheel 2 Wheel in America. Together with Loncin they are discussing the possibility to create a joint venture for producing and developing gearboxes.
 
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