Establishment of The Strategic Partnership Between Freetech Road Recycling Technology (Holdings) Limited and Jiangsu Provincial Communication Highway Department

Nov 13, 2014 19:08 JST

Source: Freetech Road Recycling Technology (Holdings) Ltd

HONG KONG, Nov 13, 2014 - (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 industry using "Hot-in-Place" recycling technology, today announced the Group had signed a strategic cooperation agreement with Jiangsu Provincial Communication Highway Department ("Jiangsu Highway Department"), developed comprehensive cooperation in aspects of new maintenance materials, new technology, new machinery products used for maintenance projects, marketing promotion and application, industrialization and research and development, and built a long-term strategic partnership with mutual coordination and support.

Establishment of The Strategic Partnership Between Freetech Road Recycling Technology (Holdings) Limited and Jiangsu Provincial Communication Highway Department

According to the agreement, through the Group's Research Centre for Asphalt Pavement Surface Hot-in-Place Recycling Technology and Jiangsu Province Road Maintenance Equipment Engineering Laboratory, both sides will fulfill respective advantages to focus on the research of recycling technology in asphalt pavement maintenance, the production of road maintenance accessory equipment, road rapid maintenance technology and high performance road maintenance materials etc. Jiangsu Highway Department will offer a research and development platform and resources to the Company, and support the application of the research and development results. The Group will focus on in-depth research on recycling technology in asphalt pavement maintenance and the development of cost-efficient and reliable maintenance equipment of an international standard.

The road density and the road management and maintenance level of Jiangsu Province are top-ranked in the People's Republic of China. In 2011, Jiangsu Provincial Communication Department* was ranked first in the Eleventh Five-Year National Road Management and Maintenance Inspections organized by the Ministry of Transportation. The successfully of signing the strategic cooperation agreement will help the Group to get more resources from the management department of the government and enhance the Group's core competitiveness.

Information of Jiangsu Highway Department
Jiangsu Highway Department is the government department and responsible for the construction, maintenance and management of different types of road including all of the state roads, highways and county roads in the Jiangsu Province of the People's Republic of China.

Mr Sze Wai Pan, Chairman of Freetech, and Ding Feng, deputy director of Jiangsu Provincial Communication Department, have great confidence in the prospects of the strategic cooperation. At the ceremony, they said: "Based on the establishment of long-term strategic partnership, both side can together carry out the research and development of technology and equipment and the trial application in order to promote the application of new road maintenance technologies."

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: enquiry@freetech-holdings.hk 
Fax:  (852) 2363 7987  

Strategic Financial Relations Limited
Vicky Lee  Tel: (852) 2864 4834 / 9471 2009  Email: vicky.lee@sprg.com.hk 
Stephanie Liu  Tel: (852) 2864 4852 / 9616 6167  Email: stephanie.liu@sprg.com.hk
Fax: (852) 2527 1196

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