PSI and HD Hyundai Infracore amend supply agreement: fixed 2023 pricing, extended term to 2026

POWER SOLUTIONS INTERNATIONAL, INC.

Addendum #12 sets 2023 prices for HDI engines; future years to be negotiated annually based on raw material costs and volume forecasts.
Supply agreement term extended from Dec 31, 2023 to Dec 31, 2026, with automatic one-year renewals unless 12-month notice given.
Late payment charge added for overdue invoices; confidential pricing details redacted from public filing.
Covers multiple engine models including 8.1L, 11.1L, 14.6L, 18.3L, 21.9L.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

POWER SOLUTIONS INTERNATIONAL, INC. entered into Addendum #12 with HD Hyundai Infracore Co., Ltd. f/k/a Hyundai Doosan Infracore Co., Ltd. ("Doosan") (effective 2023-06-08).

Action: entry
Agreement: supply
Counterparty: HD Hyundai Infracore Co., Ltd. f/k/a Hyundai Doosan Infracore Co., Ltd. ("Doosan")
Effective: 2023-06-08

Exact text from the filing

On June 8, 2023, Power Solutions International, Inc. (the “Company”) and HD Hyundai Infracore Co., Ltd. f/k/a Hyundai Doosan Infracore Co., Ltd. (“Doosan”) entered into Addendum #12 (the “Addendum”) to the Supply Agreement, dated as of December 11, 2007 (the “Supply Agreement”), by and between Doosan and the Company, as amended from time to time.

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Source: SEC EDGAR

accession 0001193125-23-165466

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