Spectrus and Simzu Joint Venture

Event 1: MOU Signed with Simzu
MOU Signed Date: 23 Mar 2016

After initial discussions, Spectrus and Simzu have agreed to set-up a Joint-Venture (JV) to leverage our capabilities and together develop the technical bamboo fibre composites market for industrial applications.
The envisaged Joint-Venture (JV) is aiming to become a leader in the extraction, refinement and application development of technical bamboo fibre, bamboo fibre composite materials and bamboo fibre composite parts.
Both Parties will jointly agree on and approve a business plan for the envisaged Joint-Venture (JV), setting out their vision for the extraction, refinement of bamboo fibres as well as the development of innovative bamboo fiber composite applications. The business plan will elaborate on the market potential to replace metals, plastics, traditional composite materials and natural-fibre composites materials in order to offer environmentally friendly, light-weight and cost-effective solutions to the customers.
Fujian Simzu New Materials Co. Ltd. (referred as “Simzu”) is a company registered in China, which produces environmental products in China, primarily made up of bamboo based materials. The products produced currently are houseware, kitchenware, tableware, etc.

Event 2: JV with Simzu successfully registered in China.
JV Registration date: 12 Aug 2016

Based on detailed discussions, Spectrus and Simzu have set-up a Limited Liability Sino-Foreign Equity Joint Venture company in People’s Republic of China. The Joint Venture company is named as Fujian Simzu New Materials Research and Development Co. Ltd.
The Joint-Venture (JV) is aiming to become a leader in the extraction, refinement and application development of technical bamboo fibre and Bamboo fibre composite materials and Bamboo fibre composite parts.
Fujian Simzu New Materials Co. Ltd. (referred as “Simzu”) is a company registered in China, which produces environmental products in China, primarily made up of bamboo based materials. The products produced currently are houseware, kitchenware, tableware, etc.

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