DEZHOU, China (Jan. 21)—Tirex Corp. has signed a memorandum of understanding with a Chinese firm that could provide Tirex entry into the Chinese market. The Shandong Hongli Group will buy ``the major proprietary portion´´ of Montreal-based Tirex´s patented TCS-1 tire cryogenic grinding system for $2.25 million, according to the Dec. 15 agreement. Also, Hongli agreed to negotiate a licensing deal with Tirex for exclusive manufacturing and marketing rights to the TCS-1 system in China.
Tirex, China firm sign deal
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