SYNergy ScienTech Corp (TPE:6558) has entered into a battery cell contract manufacturing agreement with C-LiFe Technologies, according to a Wednesday filing to the Taiwan stock exchange.
The company's shares were down over 2% in Thursday's trade.
Under the pact, both parties will jointly establish large-scale battery cell manufacturing capabilities in Taiwan, which is expected to facilitate the integration of both parties' production resources.
The agreement is valid for a term of five years from the date of execution and may be extended by mutual consent.
This collaboration is expected to facilitate the integration of both parties' production resources.