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Sentury Tire's Hong Kong Unit Secures $25 Million Credit Guarantees For US, Thai Units

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Qingdao Sentury Tire (SHE:002984) said its wholly-owned subsidiary, Sentury (Hong Kong) International Holdings, has executed two joint and several guarantee agreements with HSBC Bank USA, totaling $25 million.

Under the terms of the agreements, the Hong Kong unit will provide $10 million to back Sentury Tire USA, the company's Florida-based tire trading arm.

It will also provide $15 million to back Sentury Tire (Thailand), its radial tire manufacturing hub in Thailand's Rayong Province.

Sentury Tire's shares jumped 8% recently.

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