Tire maker Sailun selling UK sales arm

Qingdao, China –  Tire maker Sailun is to sell its fully-owned subsidiary Kings Road Tyres Group (KRT Group) at £500,000 to KRT Holdings, a company set up for the transaction and controlled by UK’s Resolve Invest Ltd.

According to Sailun’s filing on the Shanghai Stock Exchange in November, KRT Group is a Burton upon Trent-registered UK tire sales and tech services firm.

Over the first six months KRT Group had €5 million (40 million yuan) net loss on €22 million revenue.

Sailun acquired KRT Group in 2014 when…

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