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GIIB Holdings Partners With Zhisheng Rubber Technology on Rubber Processing; Shares Down 6%

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GIIB Holdings (KLSE:GIIB) signed a 10-year collaboration agreement with Zhisheng Rubber Technology for the manufacturing of masterbatch and rubber compounds, according to a Friday filing with Bursa Malaysia.

The company said Zhisheng will install new high-tech, high-efficiency machinery at its subsidiary, GIIB Rubber Compound's facility in Malaysia at its own cost to support processing capacity.

The installation will increase the plant's production capacity to 30,000 metric tons per year.

Shares of the rubber compound manufacturer were down 6% in recent trade.

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