Qingdao Double Star recenly signed strategic cooperation agreement with Shandong Hengyu Technology Company to set up Qingdao Xingheng Tyre Co.,Ltd., according to report from Tireworld.com.cn.
Since the second half year of 2015, it is said that Hengyu Technology has been in half-prodcution operation. And in Nov. 2015, it is said that Hengyu Technology is facing bankruptcy.
The report said that Double Star plans to forge Xingheng Tyre to be differentiation tyre manufacture by its capital and platform advantage in China.
In Global Top 75 Tyre Manufactures list, Hengyu Technology stands at NO.37, only lagging behind Qingdao Double Star which stands at No.33.
