Kumho Tire to aid Pakistani firm’s entry into tyre manufacture

27th September 2018 | 0 Comments
 
Kumho Tire to aid Pakistani firm’s entry into tyre manufacture
Century Engineering CEO Jawed lqbal Siddiqui (l) shakes on the deal with Kim Jong-ho, CEO of Kumho Tire

Under a technology transfer agreement signed with Pakistan-based battery manufacturer Century Engineering Industries, South Korean tyre maker Kumho Tire will provide technological and manufacturing know-how as Century establishes its own tyre production plant. The agreement signed in Seoul today covers the ten-year period to September 2028; Century Engineering will initially pay Kumho Tire US$5 million and 2.5 per cent of turnover for the assistance provided, with the contract scheduled for review after five years.

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Category: International News

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