China Auto plans tyre recycling JV with Sri Elastomers
China Automobile Parts Holdings Ltd plans to venture into the recycling of end of tyres and other process rubber products via a joint venture with Sri Elastomers Sdn. Bhd.
It signed an MoU with Sri Elastomers, which is based in Sungai Buloh, Selangor, on Wednesday.
“Sri Elastomers has the technical expertise and technology on the recycling of end of life tires and other processed rubber products,” it said, adding the Malaysian partner has the de-vulcanisation technology and processes to make new rubber compound.
China Automobile said the new rubber compound would be used to manufacture new rubber products.
“The objective of the MoU is to record the intention to form an alliance with Sri Elastomers to jointly venture to commercialise the technology in the city of Xiamen, Fujian Province, China,” it said.
It plans to set up a plant to recycle “end of life” tires and other processed rubber products to produce the compound to be used in making new rubber products.
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