Ursus : Conclusion of Memorandum of Understanding with Iran Tractor Manufacturing Company

Current report 5/20172017-02-21

Current report no. 5/2017 (21.02.2017)

Title:

Conclusion of Memorandum of Understanding with Iran Tractor Manufacturing Company

Legal basis:

Art. 17 sec. 1 Market Abuse Regulation

Message:

The Management Board of URSUS S.A. hereby informs that on the 21st February 2017 the Issuer concluded with the Iranian company Iran Tractor Manufacturing Company (ITMCO) with the seat in Tabriz a Memorandum of Understanding (MOU) on commercial and industrial cooperation.

The intention of the Memorandum of Understanding is to establish commercial and industrial cooperation between the Parties related to mutual use of tractor components in tractors of the power range 47-150 HP dedicated to the markets on which both companies are operating. The Parties agreed they will seek to launch on the above-mentioned markets jointly manufactured tractors of small, medium and heavy power range.

On the basis of the MoU the Parties shall also start an extensive technological dialogue which shall allow to build competitive advantage through launching new innovative projects. Besides, the Parties undertook to examine possibilities of cooperation related to introduction on the Iranian market of agricultural machinery and city buses offered by the Issuer. URSUS S.A. and ITMCO intend to conclude specific agreements for execution of their common projects, of which the Issuer will inform in subsequent current reports.

Iran Tractor Manufacturing Company (ITMCO) is a renowned manufacturer and exporter of heavy duty machines, vans and small trucks, as well as engines and components for agriculture machinery. Since 2016 URSUS S.A. has been cooperating with MOTORSAZAN, the subsidiary of ITMCO, in delivery of components for tractors' assembly (Current report no. 10/2016).

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