Zhu Sha, Vice Director, Information Department, of CNTIC, signed the agreement during a press conference and signing ceremony held at the Grand Hotel.
CNTIC is the national Chinese federation of all textile-related industries based in Beijing.
reached an agreement in principal with CNTIC Trading Co, Ltd.
CNTIC, one of China's largest industrial trading companies with in excess of $4 billion in revenue, is a publicly traded company on the Shanghai Stock Exchange and employs several thousand people in various areas of import and export, specifically for technical products.
Globecot Announces Joint Venture With China's CNTIC
to Distribute Chinese Editions of News, Research And Consulting Services
As part of the agreement, CNTIC has made a substantial equity investment in Wytec and will manage the production of Wytec's patented Causeway point to multi-point system within the country.
The two firms will conduct joint R&D to develop product features for the Chinese market and CNTIC will hold exclusive rights to deploy Wytec's Causeway system in China.