Boshen Tools announced that the company signed the "Technical Service Contract" with the Shanghai Electric Tools Research Institute on April 21, 2010. The two parties cooperated to build the "Boss Tools Co., Ltd. Power Tools Product R&D Center" in Shanghai.
According to the contract, Boshen Tools Co., Ltd. provides funds and dispatches R&D personnel. The Shanghai Electric Power Tools Research Institute provides experienced R&D teams, locations and corresponding research and development conditions to jointly develop high-end power tool projects. The cooperation period is from May 2010 to December 2014. During the cooperation period, the total technical service fee paid by Boshen Tools to the Shanghai Electric Tools Research Institute is RMB 4 million.
According to Boshen Tools, the cooperation will enhance its research and development capabilities, speed up the launch of new products, and rapidly expand the scale of power tool products.
According to the contract, Boshen Tools Co., Ltd. provides funds and dispatches R&D personnel. The Shanghai Electric Power Tools Research Institute provides experienced R&D teams, locations and corresponding research and development conditions to jointly develop high-end power tool projects. The cooperation period is from May 2010 to December 2014. During the cooperation period, the total technical service fee paid by Boshen Tools to the Shanghai Electric Tools Research Institute is RMB 4 million.
According to Boshen Tools, the cooperation will enhance its research and development capabilities, speed up the launch of new products, and rapidly expand the scale of power tool products.
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