The far-reaching agreement is the result of meetings held over the last 24 months and includes an agreement to create a joint-venture company to develop and market lighting and entertainment venue products for marketing and sale in multiple world markets.
“Our initial discussions centered around KTRP providing BITCC Trade Development Group with some technology and product input regarding some specific projects (including the upcoming Olympics) which they are involved in,” says Tom Folsom, president, KTRP. “As we became comfortable in our working relationship and came to rely upon the extensive capabilities and experience of the people at BITCC Trade Development Group and the complete scope of resources that BITCC Trade Development Group represented, it became clear to us that it would be to everyone’s advantage to create more than a ‘one-time’ deal."
“BITCC Trade Development Group has had great success over the years in the European Union because of our alliances with companies such as Siemans and Schenker,” stated Liu Gangrong, general manager, BITCC Trade Development Group. "We have been looking for a partner in the United States that had a broad knowledge base in projects, design, marketing, and technology. In KTRP we have found such a group. We look forward to a long and mutually profitable relationship with KTRP.”
The joint-venture company will initially be engaged in the development of specific ‘World Class’ Xenon products for sale and marketing in China and all world markets. The product will take advantage of reduced manufacturing costs in China while being able to provide a world-class product with the input and experience of KTRP. Additional products and projects are under development.
KTRP and BITCC Trade Development Group management just completed an 8 day tour of China including Beijing, Shanghai, Guangzhou, Taishan, Guang Dong and Hong Kong. The trip included visits to a variety of manufacturing facilities including controls companies, LED manufacturing companies and variety of fixture manufacturing companies. In addition, several significant future projects were reviewed.