ATV Antonov

RNS Number:4911P
Antonov PLC
15 January 2007


                          ("Antonov" or the "Company")

                        Antonov Signs Production License

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 both 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 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
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 license 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".

For more information, see www.geely.com

Enquiries

John Moore, CEO, Antonov plc                             +44 1842 768320
Jos Haag, Director, Antonov plc                          +31 651 561 767
David Rae, Dawnay, Day Corporate Finance                 +44 207 509 4570
Shane Dolan, Biddicks                                    +44 207 448 1000


                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
AGRUSAKRBRRAAAR

Antonov (LSE:ATV)
Historical Stock Chart
From Mar 2024 to Apr 2024

Antonov (LSE:ATV)
Historical Stock Chart
From Apr 2023 to Apr 2024