Phoenician Funds

KING TECH ANNOUNCES AGREEMENT

King Tech International Ltd, announces today the formal opening of its new offices at Room 502 - 507, Chinaweal Centre, 414 - 424 Jaffe Road, Wan Chai, Hong Kong, following the recent restructuring and capitalisation of the Company in December 2007 resulting in the Company being quoted on the PLUS Market.

 

Since being quoted on PLUS, the Company has gained greater market exposure which in an agreement with the Guangdong Gaintop Highway Group Limited, a  state-owned enterprise, for a total target sales of Asphalt Rubber of 40,000 ton (equivalent to 280km) in 2008with 20% growth in 2009.

 

KTIL further announces that the Company has entered into an agreement with the Chinese government agency, which falls under the Ministry of Communications of the People's Republic of China, for a total of not less than 200km Asphalt Rubber pavement annually.

 

David Lee, Chairman of KTIL, said of the agreements, "They have proved that our environmentally friendly road paving technology is the most consistent way forward to meet long-term environmental goals. King Tech is proud to be an integral part of this process in the Peoples Republic of China and in Hong Kong."

 

KTIL is an environmental technology company and its core business is the production and supply of Asphalt Rubber for paving roadways in China. AR is created by mixing rubber powder (obtained by shredding used tires) with asphalt and has advantages over the use of conventional paving roadway substances. KTIL is a member of the Rubber Pavements Association (USA) and has worked with different Chinese bodies for the development of AR in China, including AR applications and research and development.

 

For further information, please Contact Us

 

Related Company