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February 28, 1993updated 05 Sep 2016 2:37pm

AMERICAN SUPERCONDUCTOR AND HOECHST SIGN AGREEMENT

By CBR Staff Writer

Watertown, Massachusetts-based American Superconductor Corp signed a joint development agreement with Hoechst AG on techniques for making superconducting wires: American Superconductor will get $1.8m from Hoechst over 18 months to speed development and manufacture of high temperature superconductor wires and the German will invest at least another $2m on the programme at its own plants in Frankfurt; the US firm will also contribute $2.5m of assets to the joint venture and will retain all manufacturing and marketing rights in North America and Mexico; in Europe, the two will establish operations for joint manufacture and marketing of wires.

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