Asian Electronics has entered into an agreement with the US-based ABCO Licensing LLC, the sub-licensees of the US-based Westinghouse Electric Corporation, to manufacture and market lighting products and accessories under the Westinghouse brand in all SAARC countries including India.According to a release issued by Asian Electronics to the BSE today, the agreement is w.e.f April 1, 2005 for an initial period of 5 years."The agreement also provides for payment of lumpsum fees and annual royalty at stipulated rates," the release said.The stock has gained 6% to Rs 83 on the BSE at 1440 hrs.
