KuangChi Science (00439) in jetpacks business team-ups

    KuangChi Science (00439) said its associate company Martin Aircraft Company Limited (MACL) has entered into two alliance agreements with New Delhi based M2K Group Limited and Czech Republic based Martin Aircraft Company s.r.o respectively.
  The alliance agreements signed by MACL with M2K Group and MACSRO, respectively, put in place a framework for the provision of sales and marketing, operational and after market support for both the first responder and personal jetpack sectors in both Indian and European markets.
  KuangChi Martin Jetpack Limited (KCMJ), a joint venture company established by KuangChi Science with MACL, signed two strategic co-operation framework agreements with Beijing Flying Man Science & Technology Limited and Beijing Voyage Investment Limited respectively.
  The agreement signed by KCMJ with Beijing Flying Man involves the parties working towards the future delivery of a package with an initial tranche of 100 manned jetpacks, 50 unmanned jetpacks, 25 static models and 25 simulators. It will also include initial training services and after sales support which will be provided through KCMJ.
  Beijing Voyage is a subsidiary company of AVIC International (00161). The agreement signed by KCMJ with Beijing Voyage will enable the parties to develop their commercial relationship, with an objective to promote the jetpacks and generate exhibition sales and after sales services of the jetpacks in the PRC, in co-operation with AVIC and the aviation industry.