STOVEC INDUSTRIES LTD. - Intimation For Termination Of Contract Manufacturing Agreement For Manufacturing Sugar Sieves.

This is in furtherance to earlier communication of the Company on November 10, 2020 in connection with the cited subject; it is hereby inform you that the Company and Atul Sugar Screens Private Limited ('Atul') has agreed to the closure of Contract Manufacturing Agreement (CMA), accordingly, closing date of CMA would be 31st July 2022, or such later date as may be determined by Atul, which shall be no later than 30th September, 2022. Until its termination as aforesaid, Company will continue to make production of sugar sieves for Atul. <BR> <BR> Upon termination of CMA, there shall be closure of one of the manufacturing activities of the Company i.e. manufacturing of sugar sieves.<BR>