Sparc Electrex Limited announced that it is negotiating with Hyundai Corporation Holdings Co. ltd, Korea for entering into an Exclusive License Agreement which will permit the Company to use the "HYUNDAI" trademark for developing, manufacturing and selling the Power Tools and Accessories in India. Purpose of entering into the Agreement: The purpose of the agreement with Hyundai Corporation Holdings Co.

Ltd. is that the association with "HYUNDAI" brand will help the company in promoting and positioning its products along-side other MNC brands in India. Selling under "HYUNDAI" brand will help in realizing higher prices for its products because of its brand value.