QINGDAO, China—Qingdao Doublestar Rubber and Plastics Machinery Co. Ltd., a fully-owned subsidiary of rubber tire and machinery maker Qingdao Doublestar, has signed a contract to partner with Harburg-Freudenberger Maschinenbau GmbH.
Under terms of the 10-year contract, HF will license its technology for all-steel hydraulic dual-model tire forming vulcanizer to QDRPM and provide relevant training to the company's employees on site as well as at HF's factory in Croatia. QD refused to disclose the price 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 QD its exclusive partner in Asia.
In 2013, QD 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,” a HF company spokesman said in a news release.