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| WATG > SEC Filings for WATG > Form 8-K on 9-Nov-2009 | All Recent SEC Filings |
9-Nov-2009
Entry into a Material Definitive Agreement, Financial Statements and
On November 4, 2009, Wonder Auto Technology, Inc.'s subsidiary Jinzhou Halla Electrical Equipment Co., Ltd. ("Jinzhou Halla") entered into a joint venture agreement (the "Agreement") with Korea Teawon Dianzhuang Corporation, a Korean company ("Teawon Dianzhuang") pursuant to which the parties have agreed to establish a joint venture company named "Jinzhou Wonder Teawon Co., Ltd."("Wonder Teawon") on or about December 1, 2009. Wonder Teawon will primarily engage in the manufacture of solenoid switches for automotive starter, alternator collector rings, starter commutators and other automobile parts.
Under the Agreement, Jinzhou Halla will make cash contribution of $2,000,000 in exchange for 75% of the equity interest in Wonder Teawon. Teawon Dianzhuang will contribute technologies in exchange for 25% of the equity interest in Wonder Teawon.
The description of the Agreement in this current report is a summary only and is qualified in its entirety by the terms of the Agreement, an English summary of which is attached hereto as exhibit 10.1 and is hereby incorporated by reference.
(d) Exhibits.
Number Description
English Summary of Joint Venture Agreement, dated November 4, 2009, by
10.1 and between Jinzhou Halla Electrical Equipment Co., Ltd. and Korea
Teawon Dianzhuang Corporation.
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