On August 25, 2015, Shuangqin Group announced that Shanghai Tire & Rubber (Group) Co., Ltd. (Shanghai Tire), a wholly-owned subsidiary of the Group, is planning to sign “All Steel Wire†with Tianjin Saixiang Technology Co., Ltd. (Tianjin Saixiang). Heavy-duty radial tire technology transfer contract.
It is understood that Shuangqin Group is a key production enterprise of domestic TBR (all steel radial truck tires ). In the contract, Tianjin Saixiang undertakes the project as an engineering and technology contractor, and Shanghai Tire, as the software technology exporter in the project general contracting project, provides TBR-related manufacturing technologies.
It is reported that the total amount of the contract is 3.5 million US dollars. Prior to this cooperation, no similar technology transfer business took place between the two parties. Shuangqin Group believes that the performance of this contract is in line with its future strategic direction and will play a positive role in promoting its future development.
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