Agreement
Exhibit
10.14
(English
Translation)
Agreement
Agreement
NO.: XY20100602001
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A:
Minmetals Yingkou Medium Plate Co., Ltd.
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Date
of sign: June 2nd,
2010
|
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B:
Dalian Heavy Mining Equipment Manufacturing Co., Ltd.
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Place
of sign: Liaoning Yingkou
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A and B
has made an agreement about developing compound steel board together based on
voluntary and equality. They sign this agreement and abide by according to
related laws and rules in People’s Republic of China. The details are
below:
I.
Cooperative Foundation
Dalian
Heavy Mining Manufacturing Co., Ltd., which highlights in hi-technology and
combines science, industry and trade together, was built in 1992. It mainly
research, design and manufacture coke furnace mechanics, metallurgy mechanics,
materials assembling and so on. Especially in the aspect of researching
compounded steel board, it has been in the international leading level. This
kind of technology is different from traditional explosion weld; instead, it
uses vacuum weld to compound steel with different materials. After that, they
are compounded into one by steel rolling. This technology has been tested by
many steel factories and turned out to be good. The internal organization in the
mixed area of compounded steel board is superior to original organization;
besides, the thickness of compounded metal is much more even with a higher ratio
of success.
The
former Minmetals Yingkou Medium Plate Co., Ltd. was Yingkou Medium-board
factory, which was built in 1972. Currently, this company has owned a whole
modernized steel producing procedure and related devices about sintering,
melting iron, casting steel, welding steel and so on. It once used raw materials
from many places both aboard and home. This company has the experience of
producing compounded steel board over 30 years with solid technology strength
and draw up the earliest compounded steel board standards in early 1990. The
2700/2800 medium-board rolling machine can be slightly changed and upgraded into
compound board production line, which can be used immediately.
Many
industries need to use materials with high quality and value for increasing
economic use life of container and components. If the materials with high
quality and value can be replaced by ordinary melt wrapping up with a layer
material with special quality, it will satisfy the needs and avoid waste. This
kind of product is double melt compound board. Compound board can make full use
of advantages from these two materials. It not only has the quality of durable
corrode, durable rub, anti-magnetism, being luxurious and decodable from
materials with high quality and value, but also has the quality of being
weldable, shapeable, extendable and heat-conductible from carbon whet. At the
meantime, it can decrease cost heavily because of lessening the usage of
expensive melt. Therefore, it is very demanding in the market and has been used
in various industries, such as oil industry, chemistry industry, salt industry
and so on. The production of compound board can create economic effect and
create more social effect, which is consistent with the strategy of low-carbon,
energy-saving and green environment.
II. Ways
to Cooperate
1. A will
provide B with raw material, which are used for compound board rolling. B will
process them into compound board billet by using ZDF vacuum compounding
technology which is created by themselves. A will pay the processing fee and be
in charge of rolling and other follow-up production.
2. Both
sides will negotiate the processing fee of welding billet in a future proper
time.
3.
Preliminarily, both sides have agreed to an annual output of 200,000 tons.
Depending on actual market conditions, this amount will strive to reach an
output of up to 500,000 tons per year.
III.
Others
1. If
there is anything that doesn’t cover in this agreement, it will be solved by
negotiation.
2. This
Agreement will have two copies. A and B each gets one. This agreement will go
into effect after A and B sign and seal.
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A:
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B:
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Minmetals
Yingkou Medium Plate Co., Ltd
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Dalian
Heavy Mining Manufacturing Co., Ltd.
|
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/s/
Dechun Fei
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/s/
Xxxxx Xxxx
|
Supplement
about XY20100602001 Agreement
Agreement
NO.: XY20100602001Add 1
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A:
Minmetals Yingkou Medium Plate Co., Ltd.
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Date
of sign: August 9th ,
2010
|
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B:
Dalian Heavy Mining Manufacturing Co., Ltd.
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Place
of sign: Yingkou
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Based on
XY20100602001 Agreement made by A and B, A and B have made below agreements on
compound billet processing fee:
1. The
basic price of processing fee is between **Yuan/ton and **Yuan/ton. The total
price is calculated according to the number of products which are produced by B.
The specific price, based on different styles, sizes, raw materials and
requirements on technical parameter of compound billet, will have specific rules
in the processing agreement.
2. If
related market situation has changed a lot, A and B can renegotiate the basic
price.
3. The
above agreement will be the supplement of official agreement (NO. XY20100602001)
after both sides sign. It has the equal law effect as the original
agreement.
4. There
is no other change in the original agreement. Do follow the rest part of
original agreement.
5. This
supplement has two copies and both sides each have one.
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A:
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B:
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Minmetals
Yingkou Medium Plate Co., Ltd.
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Dalian
Heavy Mining Equipment Manufacturing Co., Tld.
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|
/s/
Dechun Fei
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/s/
Xxxxx Xxxx
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**
Portions of this page have been omitted pursuant to a request for confidential
treatment and filed separately with the Securities and Exchange
Commission.
