Oboya Horticulture Industries AB (publ) has signed a major strategic cooperation agreement with Hubei Nongqing Technology Co. Ltd. in China. The value of the agreement is estimated to amount approximately USD 35 million, corresponding to approximately SEK 321 million, spread over three years from 2019.

Oboya is currently participating at China International Import Expo (CIIE) in Shanghai, China. The fair brings together companies, exhibitors and professional buyers from all over the world. Oboya offers European cultivation products and technology to the Chinese market. During the exhibition, Oboya has signed a major strategic cooperation agreement with Hubei Nongqing Technology Co. Ltd. in China, which operates in the flower cultivation industry in the Chinese province of Hubei. The agreement aims to develop the flower cultivation industry in the Chinese province of Hubei and the order value is estimated at approximately USD 35 million, equivalent to approximately SEK 321 million, spread over three years from 2019.

The cooperation is expected to create long-term relationships with Hubei Nongqing Technology Co. Ltd. With this agreement, Oboya takes another important step into the Chinese cultivation market.

 

Erik Penser Bank is Oboyas Certified Adviser at Nasdaq First North. 

 

For any inquiry regarding this press release, kindly contact:

 Robert Wu, CEO Oboya Horticulture Industries AB (publ)

 

Phone: + 86 159 6983 5999

E-mail: robert.wu@oboya.cc

Homepage: www.oboya.se

 

This information is insider information that Oboya Horticulture Industries AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 11.00 on November 7th, 2018.

 

About Oboya Horticulture Industries AB

 Oboya Horticulture aims to become a world-leading total supplier of consumables and logistics products for the cultivation industry as well as consumer products for home cultivation and indoor environments. Production takes place in factories in China, Poland, Denmark, Vietnam and Kenya. More information about the company is available at www.oboya.se.