ACE Hardware Indonesia Extend Licenses in 15 Years
Portfolio April 18th, 2010
JAKARTA – ACE Hardware Corporation continued its license agreement for the brand and products directly imported from the United States with PT ACE Hardware Tbk (ACES), after 15 years in synergy together.
As noted ACES management, the disclosure of information to the Indonesia Stock Exchange (BEI), in Jakarta, on Thursday (18/3/2010), management company has signed a license extension was made on January 19, 2010.
With the extension of the license valid for 15 years, this new agreement will run January 1, 2010 until December 31, 2024.
Just mengigatkan, the company will open a new outlet measuring 15 thousand square meters called Living World which will be built in August 2010.
In addition to building plans, the EGM in April and has agreed to pay rent of about Rp90 billion to PT Kawan Lama Sejahtera, which is the parent company.
Rent payments have been made in August of Rp20 billion. Time of payment of about Rp90 billion. This is done according to a lease agreement which was signed between the parties.
