Harmonic Energy Inc: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Harmonic Energy Inc Signs Take-or-Pay Carbon Sales Contract
Harmonic Energy Inc announced that is has signed a 10 year Take-or-Pay contract with Carbon Black Sales CBS for the distribution, blending and sales of refined carbon black produced from any of its planned projects and operations globally. The signed contract is based on the internationally prevailing take-or-pay practice, emphasizing the rights and obligations of both parties: provision without delay on the part of the supplier and pay regardless of market conditions on the part of the purchaser. During the term CBS shall take no less than 30,000 tonnes per year of Harmonic's low CO2e carbon black products. Harmonic's green carbon black is an equivalent grade of N660 carbon black. The price per tonne will be established by using the quarterly Sid Richardson Carbon price list for N660 carbon black. CBS will purchase Harmonic's carbon black at a 60% discount to market prices on a per tonnes basis. Harmonic's management continues to grow its sales and distribution networks and is confident that additional opportunities exist for further contracts to be negotiated with higher profit margins. Even with such a heavily discounted carbon sales price we believe that this contract is a testament to the strength of the company's business plan and product offering. Each facilities financial model and return on investments analysis is positioned strongly and with guaranteed carbon black sales in place.
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