Tianjin, China – Tianjin-based rubber machinery maker TST signed contract on 12 January to supply tire manufacturer Huayi Group (Thailand), according to a TST statement.
The contract is priced at 124 million yuan (€17 million) and TST will deliver truck and bus tire and engineering tire machinery as well as other relevant products from the second quarter to the fourth quarter of 2017.
Huayi Group (Thailand) is a subsidiary of China’s conglomerate Huayi Group. It’s based in the LK-RICH industrial park in Rayong, Thailand with 3.5 billion baht (€93 million) registered capital.
“The contract is worth over 30% of our company’s revenue in the last fiscal year (2015),” said TST’s statement. “It will raise our profitability in 2017.”