TIANJIN, China — Huayi Group (Thailand) has contracted with Chinese rubber machinery maker Tianjin Saixiang Technology Co. Ltd. to supply it with $18 million worth of equipment for Huayi's truck and bus tire plant being built in Rayong, Thailand.
Tianjin-based TST is engaged in the research, development, manufacturing and distribution of radial tire production equipment, with an emphasis on truck and OTR tires, along with related equipment and accessories.
TST said the contract covers "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 is a joint venture involving China's Shanghai Huayi (Group) Co. Ltd.—parent of Double Coin Holdings—and Bangkok-based Tribeca Enterprise Co. Ltd., a subsidiary of Thai rubber company Thai Hua Rubber Public Co. Ltd. and the promoter of the LK-RICH estate where the plant is being built.
"The contract is worth over 30 percent of our company's revenue in the last fiscal year (2015)," TST said. "It will raise our profitability in 2017."