Asia
Sentury Tire's Hong Kong Unit Secures $25 Million Credit Guarantees For US, Thai Units
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.
SHE:002984
