fbpx
SA Treads
Advertisement
  • Home
  • Advertise
  • About SA Treads
  • From the Editor
  • International
  • Southern Africa
  • SATreads Digital Issue
  • Podcast
  • Contact Us
No Result
View All Result
  • Home
  • Advertise
  • About SA Treads
  • From the Editor
  • International
  • Southern Africa
  • SATreads Digital Issue
  • Podcast
  • Contact Us
No Result
View All Result
SA Treads
No Result
View All Result
Home International

Kumho signs tyre tech agreement with Pakistani battery producer

Liana Shaw by Liana Shaw
Jan 30, 2019
in International
0 0
0
0
SHARES
25
VIEWS
Share on FacebookShare on Twitter

Korean tyre producer Kumho Tire has signed a technology transfer agreement with Pakistan based automobile battery manufacturer Century Engineering Industries.

Century plans to build a tyre plant with a million tyre capacity annually, which would likely to be hiked to five million over a period of time.

Headquartered in Gwangju, South Korea, Kumho would support Century for a decade up to 2028 in acquiring technological expertise in tyre manufacturing. In turn, Century would pay lump-sum fee of $5 million besides royalty amounting to 2.5% of future sales.

“We will leverage this deal as a starting point to establish technology transfer as a new revenue source and develop a variety of business models that build on our expertise in tyre manufacturing in order to further enhance our performance,” said Kim Jong-ho, CEO of Kumho Tire

As per the tech transfer agreement, Kumho would extend technology to produce 28 types of tyres for passenger and commercial vehicles and renew the contract every five years after the initial term ends. The agreement also covers standardisation, quality control and evaluation in the manufacturing process.

Tags: Century Engineering IndustriesKumho Tire
Liana Shaw

Liana Shaw

Download Latest SATreads Digital Magazine

Download Latest SATreads Digital Magazine

  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2020 - SA Treads news & tyre portal

No Result
View All Result

© 2020 - SA Treads news & tyre portal

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?