New License Agreement for Crocodile in PR China

Crocodile is pleased to announce that a new non-exclusive Licence Agreement has just been signed with Gateway Crocodile (Shanghai) Packaging Co., Ltd. which will allow the production and sales of Crocodile's patented products in the Guangdong, Shanghai and Jiangsu regions of PRC.

This new Agreement replaces the old exclusive agreement, in which Crocodile had a 20% share of the joint venture Company in Shanghai. Under the new arrangement, Crocodile has sold its shares to Gateway, and Gateway has transferred some recently granted Chinese patents, covering the products, to Crocodile.

Quentin Philip, the Managing Director of Crocodile Packaging, said "I am delighted with this new Agreement, which I am confident will allow for a much better working relationship with Gateway in the future. It removes a number of restrictions which had constrained both parties previously, and I am sure we are both now in a better position to exploit the full market potential for our products"

Danny Wu, Director of Gateway, echoes this view and is confident that the new arrangement will enhance the effectiveness of the operations in China, putting it in an even better position to move forward in the vast Chinese market. “The PRC market is maturing at an incredible speed, and we’re fortunate to be a part of the country’s unprecedented period of economic growth. The new arrangement with Crocodile U.K. will provide us the continuous technical support and product development capabilities and the market opportunities in China.”

For further information please call Crocodile UK on +44 1793 821555