Great Wall Builders Ltd. (OTC: GWBU), earlier today, announced that it appointed B.U.T.WACTUR Waclaw Mroz as its exclusive distributor in Poland.
GWBU, which operates as Start Technologies Europe, signed a five-year agreement with B.U.T.WACTUR. The agreement calls for a minimum purchase of 600,000 euros in Start FEED units in the first 12 months. After the first year, the contract amount will increase by 10% in each of the following four years.
With number of vehicles estimated at 17 million, Poland is a significant market for Great Wall Builders. Nearly 40% of the total number of vehicles in Poland is more than 11 years old, while 20% is more than 15 years old. According to Daniele Brazzi, the data would indicate that the Polish market lags well behind in terms of fuel efficiency and tailpipe emissions, due to older technology employed by an ageing fleet. Brazzi believes that Poland is an ideal market for GWBU’s Start FEED products.
GWBU shares are marginally higher in trading today. At last check, the stock was trading 1.38% higher at $1.47 on volume of 761,427.