Chijet Motor (CJET) said Friday that its FAW Jilin Automobile unit has signed a framework cooperation agreement with the economic governor of Tashkent, Sayyed Karimov, on behalf of Tank Auto.
Under the terms, Tank Auto will be FAW's distributor and sales agent in Uzbekistan, providing automotive sales and after-sales services in the next three years, Chijet said.
Financial terms of the agreement weren't disclosed.
Shares of the company rose more than 10% in recent Friday trading in the US markets.
Price: 0.32, Change: +0.03, Percent Change: +10.34
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