Announcement of the cooperation between GOODFRIEND TYRE and API

Home >> Announcement of the cooperation between GOODFRIEND TYRE and API

ANNOUNCEMENT

We noticed that  www.tirebusiness.com  published one news on November 4, 2009 which reported that API has acquired the management control of Good Friend Tyre CO. Ltd and intends to rename the company. 

Our company top management was astonished by this news. We hereby clarify：

1 )  The information cited in the news is absolutely not true. 

2）The ownership of Good Friend Tyre CO. Ltd has never been changed. Good Friend Tyre CO. Ltd did not share any ownership to any companies or personnels.  

3）The core of business cooperation between our company and API is that API provides its molds to Good Friend Tyre CO. Ltd; Good Friend Tyres produce tires and sell tires to them. Good Friend Tyre CO. Ltd did not sell any stakes or undisclosed stakes to any parties.

The business and reputation of Good Friend Tyre CO. Ltd have been greatly affected by the news released on the tirebusiness website.  We reserve the right to take further legal actions to against the person or company who released this incorrect information.    

Good Friend Tyre CO. Ltd.

     November 5, 2009