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Company News

BRIEF-Enerkon Solar International Plans To Invest $30 Million In Ursus

Sept 4 (Reuters) - Ursus sa:

* SAID ON TUESDAY THAT THE COMPANY AND ITS UNIT, URSUS BUS, HAVE SIGNED MEMORANDUM OF UNDERSTANDING WITH ENERKON SOLAR INTERNATIONAL

* PARTIES TO SIGN TERM SHEET AND INVESTMENT AGREEMENT AS SOON AS POSSIBLE IN A BID TO RESTORE URSUS’S PRODUCTION CAPACITY

* ENERKON SOLAR INTERNATIONAL PLANS TO INVEST IN THE FIRST STAGE UP TO $30 MILLION

* ENERKON SOLAR INTERNATIONAL PLANS TO ACQUIRE UP TO 7% OF SHARES IN URSUS AND UP TO 49% OF SHARES IN URSUS BUS

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