Crain News Service report
QINGDAO, China (Aug. 5, 2014) — Qingdao Doublestar Rubber & Plastics Machinery Co. Ltd. (QDRPM), a wholly owned subsidiary of rubber tire and machinery maker Qingdao Doublestar Tire Corp., has signed a contract to partner with Harburg-Freudenberger Maschinenbau GmbH (HF).
Under terms of the 10-year contract, HF will license its technology for all-steel hydraulic dual-model tire-forming vulcanizers to QDRPM and provide relevant training to the company’s employees on site as well as at HF’s factory in Croatia. Qingdao Doublestar did not disclose the value of the contract.
According to the announcement, HF has been the largest rubber machinery maker in sales value in 2014, and is planning to make QDRPM its exclusive partner in Asia.
In 2013, QDRPM net profit increased 32 percent to $4.5 million. It said 5 percent of its revenue came from rubber machinery.
“The objective of this cooperation is to offer a tailor-made truck tire press to the Chinese market at an attractive price, designed by HF and produced by Doublestar with HF know-how,” an HF company spokesman said in a news release.
This report appeared on european-rubber-journal.com, the website of European Rubber Journal, a U.K.-based sister publication of Tire Business.
With one-third of 2018 in the books, how would you characterize business thus far?
|Sales are behind where we were last year at this point.||
29% (36 votes)
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