Wellington Drive shares soar 23 percent on North American tie-up with East West Manufacturing

Mon, 31 Mar 2014

March 31 (BusinessDesk) - Shares in Wellington Drive Technologies soared 23 percent after the unprofitable energy efficient motor maker signed a channel partnership with US-based East West Manufacturing. The stock climbed 3 cents to 16 cents, having shed 46 percent this year. The Auckland-based company announced the deal with Atlanta, Georgia-based East West as an exclusive channel partner for its electronic motors in the US and Canada, it said in a statement. The alliance aims to improve customer service and reduce lead-times, Wellington...

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