Thursday, 2 Jun 2011

Aeolus Tyre Co., Ltd announced that it will invest RMB 40 million to set up a joint venture with China National Tire & Rubber Corporation, a Shanxi-based tire company, a Guilin-based rubber company, and a Qingdao-based conveyor company, with each to hold a 40% (the Company), a 35%, a 10%, a 10% and a 5% stake. The joint venture will be with a registered capital of RMB 100 million and be engaged in the international trading, processing, import and export of products, technologies and equipment.