People's Music Publishing House and Mel Bay executives with members of the Department of Economic Development, Missouri.
MARCH 3 I MEL BAY I LICENSING
Mel Bay Signs Licensing Agreement
Mel Bay recently announced a multi-million dollar licensing agreement with People's Music Publishing House (PMPH) of Beijing, China.
The company and representatives of People's Music Publishing House made the announcement at Mel Bay's headquarters in St. Louis, where they were joined by Missouri Department of Economic Development (DED) officials for signing.
In May 2009, the DED's International Trade and Investment Office began working with domestic staff and the agency's China office to assist Mel Bay in its search for business partners in China. Meetings and negotiations between the two firms continued for about one year.
In addition to the initial licensing agreement, Mel Bay expects production from further projects with PMPH to exceed 5,000,000 units in the next five to 10 years. The value of this agreement will be measured in tens of millions of dollars, according to Mel Bay executives.