Battery production line

New factory in Hefei City, Anhui Province, China

Zentric, through a wholly owned subsidiary Zentric (HK) Limited is entering into an agreement to be a joint venture partner in the purchase of a new lead acid battery factory in Hefei City, Anhui Province in China.  This is very significant for a number of reasons.

The factory will be a 1 million square foot modern building sitting on 82 acres of land. Once the construction is complete a real estate investment fund has agreed to invest $3 million into Zentric and that equity infusion will help us qualify for an additional bank line of credit of up to $6 million. These funds will help offset the costs of the land acquisition and factory construction as well as provide the JV partners working capital to set up operations.

The Zentric (HK) subsidiary is in final negotiations to acquire a battery production line that will be moved to the new facility in Anhui Province complete with annual revenues of $5 million.