Kossan Rubber Industries Bhd plans to partner with the Tong Tech Metro Vibration Control Co Ltd (TMVC) of the Shanghai Tongji University, to jointly design and manufacture an anti-vibration system for railways, buildings and bridges along railways for the China market.
The glove producer told Bursa Malaysia yesterday that it entered into a memorandum of agreement (MoA) yesterday with TMVC for the purpose of a strategic alliance for the above venture.
The MoA was inked via Kossan’s 70%-owned subsidiary Doshin Rubber Products (M) Sdn Bhd.
Under the agreement, Doshin will manufacture the floating flab, base plate vibration isolation technology and rubber pad based on designs supplied by TMVC. It will also undertake joint product development, design, trial production and the manufacturing of the products, besides conducting technical seminars.
TMVC, on the other hand, will promote other relevant products manufactured by Doshin for China’s projects, undertake joint product development and design, provide technical support to any projects outside China upon request, and undertake market development and provide technical service for the venture.
Kossan rose three sen to close at RM6.49 yesterday, giving it a market capitalisation of RM4.15 billion.
