August 28, 2014 9:28 PM ET

Road and Rail

Company Overview of Chongqing Municipal Transport Development and Investment (Group) Co., Ltd.

Company Overview

Chongqing Municipal Transport Development and Investment (Group) Co., Ltd. offers management of public transportation. It offers management of buses, light rail trains and railway trains. The company is based in Chongqing, China.

Chongqing,  

China

Key Executives for Chongqing Municipal Transport Development and Investment (Group) Co., Ltd.

Chongqing Municipal Transport Development and Investment (Group) Co., Ltd. does not have any Key Executives recorded.

Chongqing Municipal Transport Development and Investment (Group) Co., Ltd. Key Developments

ecoWise RubberTech Pte. Ltd. and Chongqing Municipal Transport Development and Investment (Group) Co., Ltd. Announce Factory Completion of Chongqing Ecoctig Rubber Technology Co, Ltd

The Board of Directors of ecoWise Holdings Limited refers to the announcements dated 7 November 2012, 3 January 2013 and 17 April 2013 in relation to the joint venture agreement ("JVA") entered between its wholly-owned subsidiary, ecoWise RubberTech Pte. Ltd. ("ERT") and Chongqing Municipal Transport Development and Investment (Group) Co., Ltd. ("CTIG") and the incorporation of the 65% joint venture company Chongqing eco-CTIG Rubber Technology Co., Ltd. ("CECRT"). Under the terms of the JVA, the Group shall provide technical and know-how supports on total tyre management and tyre retreading technologies to CECRT. The Group shall also take charge of setting up of the factory and subsequently management of the operations. The group announced that the above works have been successfully completed, culminating in the opening ceremony of the factory of CECRT on 25 July 2014 and the earlier signing of a Total Tyre Management ("TTM") Service Contract between CECRT and Chongqing Liangjiang Public Transport Co., Ltd. of CTIG. Under the TTM Service Contract, CECRT is to manage the bus company's tyres, supply new tyres and retread tyres from its factory for a monthly fee based on the number of buses managed. The group's wholly-owned rubber compound manufacturing and tyre retreading group under Sunrich Integrated Sdn. Bhd. had collaborated with Kraiburg Austria GmbH & Co. KG in providing the technology to this factory of CECRT so that it can achieve the standard of tyre retreading currently available. SRIT and Kraiburg are currently working with the technical team of CTIG's Light Rail Transport ("LRT") in carrying out the testing of some retreaded tyres on LRT train. The results so far has been satisfactory and if successfully accepted by CTIG LRT, it will adopt retreaded tyres for the LRT trains. Leveraging on business provided by CTIG's bus companies, CECRT hopes to develop and secure businesses from other companies in the logistics and transportation sectors in Chongqing and other near- by cities at a later date.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
May 29, 2014
Chongqing Hengtong Bus Co., Ltd.
 

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