January 17, 2007


Chinese transmission builder signs licensing agreement with British technology firm

Norfolk, England – British automotive technology firm Antonov has announced it has signed a production license agreement with Zehjiang Geely Automobile Gearbox Company, the transmission manufacturing subsidiary of Chinese automaker Geely Automotive. The license is for the production of Antonov’s TX6 six-speed automatic transmission.

Under the license, Geely will have the non-exclusive worldwide rights to manufacture and sell transmissions covered by the Antonov six-speed automatic patents, and will also receive design support from the British firm. Antonov will receive license fees totaling 900,000 Euro, payable over the next nine months, plus a production royalty on each transmission produced.

Geely, which currently produces around 200,000 vehicles per year, has already taken two models of conventional automatic transmission to market; both companies will work together to incorporate the TX6 into a number of models, with production commencing in 2008. The Antonov TX6 will be available to other vehicle makers worldwide.

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