California Nanotechnologies Corp. (CANOF.PK), Tuesday announced a distributor and R&D services partnership agreement with Germany-based Dr. Fritsch Sondermaschinen GmbH, a manufacturer of machine tool accessories.
As per the deal, the company will act as a distributor agent in North America for Dr. Fritsch's larger-scale Spark Plasma Sintering equipment, including aftermarket services. Also, it will offer support to Dr. Fritsch customers with developmental trials, pilot-scale validation, and material evaluation services.
The California-based company stated that the agreement would enhance its equipment product portfolio as well as help it to access more North American customers.
Speaking about the agreement, Ute Wilkinson, President of Dr. Fritsch, said, "American customers, especially those in the defense and energy sectors who face export restrictions, will benefit from Cal Nano's robust testing, development, and production capabilities using Dr. Fritsch machines."
CANOF closed at $0.24, up 4.15 percent on the OTC Markets.
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