PEGASUS and JUKI enter into a fundamental transaction and cooperative sales agreement
23rd October 2021, Mumbai:
On April 26, 2021, JUKI Corporation and PEGASUS Sewing Machine Mfg. Co., Ltd., two Japanese sewing technology behemoths, signed a fundamental business cooperation agreement.
Both firms agreed to continue forward with commercial collaboration in the sectors of sales and development, and have been working out the terms of the partnership in the months following.
In the most recent development, JUKI and PEGASUS have achieved an agreement on joint sales and have signed a basic transaction agreement that will take effect on October 1, 2021.
Under the terms of the deal, the firms will begin cooperative sales in numerous emerging areas immediately (in October). From next year, they will work together to extend the number of nations (territories) covered by the agreement.
According to JUKI, the alliance would endeavour to create additional product solutions that use their individual strengths and fields of expertise to address client demands through smart collaborative approaches.