Freetech Signed Cooperation with School of Management of University of Chinese Academy of Sciences

Apr 01, 2015 22:55 JST

Source: Freetech Road Recycling Technology (Holdings) Ltd

HONG KONG, Apr 01, 2015 - (ACN Newswire) - Freetech Road Recycling Technology (Holdings) Limited ("Freetech", or the "Group;" stock code: 6888), a leading and fast-growing service provider in the asphalt pavement maintenance ("APM") industry using "Hot-in-Place" recycling technology, today announced that The board of directors (the "Board") of Freetech Road Recycling Technology (Holdings) Limited (the "Company") is pleased to announce that in March 2015, the Company entered into a cooperation agreement (the "Cooperation Agreement") with School of Management of University of Chinese Academy of Sciences("Management School UCAS"). Pursuant to the Cooperation Agreement, the Company and Management School UCAS will jointly establish the UCAS Freetech Ecological Science and Technology Research Centre ("UCAS Freetech Centre"). UCAS Freetech Centre will perform research into energy saving, environmental protection and cyclical economy in transportation and municipal construction areas, as well as incubate and develop new technology and products and provide application analysis on new technology and products.

In addition, Management School of UCAS will provide education support at the "Road Doctor Training Institute" set up by the Company, and assist the Group to educate management talents in the road maintenance industry.

Information of School of Management of University of Chinese Academy of Sciences
Management School of UCAS is a university institution of the University of Chinese Academy of Sciences, the highest-level scientific institution in the People's Republic of China. Management School UCAS is one of the most prestigious business schools for educating senior management talents. It has a faculty team consisting of dozens of academicians from either Chinese Academy of Sciences, Chinese Academy of Engineering or both academy. In order to develop and improve a new talent, Management School UCAS has recruited MBA graduates since 1998, and recruited overseas and Hong Kong, Taiwan and Macau graduates since 2004. It has approximately 800 Ph. D. and masters graduates, including approximately 400 MBA graduates.

The in-depth cooperation between the Group and the highest-level scientific institutions in China is initiative in both contents and forms, and will bring changes to research upgrade and talent training in the pavement maintenance industry in the future. The Company believes that the Cooperation Agreement will have positive effect to the Group in the research and development and application of new technology, products and techniques, and also notable improvement in educating management talents. The Company believes that such cooperation could enhance the core competitiveness of the Group and potentially lead to more business opportunities for the Group in the future.

About Hot-in-Place Technology
Hot-in-Place Technology is used in asphalt pavement maintenance, an on-site, in-place technology that rehabilitates deteriorated asphalt pavements through heating, scarifying and mixing the damaged asphalt materials with new materials and thereby minimises the use of new materials. The primary purpose of this process is to repair pavement damages such as cracks, ruts and holes, and bumps.

Contact:

Freetech Road Recycling Technology (Holdings) Limited
Tel:  (852) 2330 9600
Email: ir@freetech-holdings.hk, or enquiry@freetech-holdings.hk 
Fax:  (852) 2363 7987  

Strategic Financial Relations Limited
Vicky Lee       Tel: (852) 2864 4834  Email: vicky.lee@sprg.com.hk 
Stephanie Liu   Tel: (852) 2864 4852  Email: stephanie.liu@sprg.com.hk
Fax:  (852) 2527 1196

Source: Freetech Road Recycling Technology (Holdings) Ltd
Sectors: Daily Finance