Hong Kong–(Business Wire)–The board of directors (the “Board”) of Freetech Road Recycling Technology (Holdings) Limited (the “Company”) is pleased to announce that the Company entered into a cooperation agreement (the “Cooperation Agreement”) with China Highway Engineering Consulting Corporation (the “China Highway Consulting Co.”) on 11 April 2017.
Pursuant to the Cooperation Agreement, the Company and China Highway Consulting Co. will seize opportunities brought about by the "One Belt, One Road" national strategy, carry out cooperation at different levels and in different areas and jointly develop road maintenance market by using China Highway Consulting Co.’s complete services ability on the road construction industry, the Company’s uniqueness and capability in equipment production, research and development, and project diagnosis and construction in the road maintenance industry, and the business expansion model such as “Full Cycle Construction, Operating and Maintenance on Road Communication” . Subsequent to the partnership between the Company and its subsidiaries (the "Group") and COSCO SHIPPING (Hong Kong) Industry & Trade Limited (a wholly-owned subsidiary of China Ocean Shipping (Group) Limited) in July 2014, this is the second time for the Company to co-operate with large State-owned enterprises on a strategic development level.
Established in 1992, China Highway Consulting Co. is a wholly owned subsidiary of China Communications Construction Company Limited, a large state-owned company under the supervision of the state-owned Assets Supervision and Administration Commission of the State Council. The consulting business operation of China Highway Consulting Co. covers highways, municipal roads, railways, constructions, electronic engineering, environmental engineering, mapping, information and other industries and fields.
The Company believes that the Cooperation Agreement will have a positive effect to our Group in road maintenance equipment sales, road maintenance techniques and projects, and definitely bring great benefits to the Group to expand its business in the overseas market. The Company believes that such cooperation could enhance the core competitiveness of the Group and lead to more potential business opportunities for the Group in the future.
About Freetech (Stock Code: HK.6888)
Known as "road doctor", Freetech is the leading service provider using Hot in-place recycling technology in asphalt pavement maintenance industry. Freetech has developed into a four in one high-tech company including road maintenance technology research, maintenance equipment R&D and manufacturing, maintenance project contracting and personnel education.
Contact:
Freetech
Vicky Xue, +852-2330 9600
Fax: +852-2363 7987
ir@freetech-holdings.hk, enquiry@freetech-holdings.hk
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