The buildings and machinery equipment of Xintai Rubber Co., Ltd. in Shouguang, Weifang, Shandong province, were auctioned by local court.
The auction started at 8.3 million yuan, the earnest money was 830,000 yuan, and the bid increment was 10,000 yuan each time.
The company was established in 2003 and was dedicated to produce and sell motorcycle tires and radial tires.
It was involved in the dishonest list twice in 2016-2017 by the People’s Court of Shouguang.
