Guangrao county sets up fund to promote tire industry consolidation
2018-1-2 17:44:12Editor：AmandaFont Size：Big Medium Small
A fund of 10 billion yuan has been established lately in Guangrao county, Shandong province, for promoting the consolidation of the local tire companies.
The fund is co-founded by the local government, an investment firm and a state-owned tire manufacturer.
The first installment of the fund, worth 900 million yuan, is focused on the ongoing consolidation projects.
The local government of Guangrao county will form a team to lead the program, and provide necessary fiscal and policy supports.
Qingdao Doublestar, the state-owned tire firm behind the fund, is the only public state-owned tire firm in Shandong province. The company has recently put in mass investments seeking for M&A opportunities in and out of China.
Tireworld
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