JAKARTA - PT Lotte Chemical Titan Nusantara, a company controlled by PT Titan Chemical Titan Tbk (FPNI), has signed an agreement to use the Lotte logo (IP) with Lotte Chemical Corporation (LCC), Korea. For the use of the logo, Lotte Chemical Titan has to pay Rp 36.64 billion.
Based on the disclosure of company information, the affiliate transaction was signed on 28 June 2019, and will be effective from 1 July 2019 until 31 December 2020.
The transaction will provide benefits to licensees and companies indirectly. In the future, the license fee is expected to support the improvement of LCC's consolidated financial performance. (LK/AR)