Hua Qin and Pirelli Sign Contract for Automotive Exhaust Filter Project

The signing ceremony for the joint venture between Hua Qin Group and Pirelli Group to produce automotive exhaust filters was held at the Convention Center. Group Chairman Niu Yishun and senior member of the Pirelli Group in Italy signed the cooperation agreement. The leaders of Jining City and Pareto, the global operations director of Pirelli Group, Pirelli Group's Chinese management staff and Huaqin Group's cadres and staff attended the signing ceremony. The signing ceremony was hosted by Zhang Yuhua, Mayor of Zhangzhou City.

Since the joint venture between the group company and Pirelli in 2005, the two parties have conducted close cooperation and achieved mutual benefits and win-win results. The good cooperation has led Pirelli to break the practice of investing only one project in one place. Following the tire project, the two parties once again joined hands to jointly invest in a new car exhaust filter project. The project is one of the Sino-Italian environmental protection cooperation projects jointly signed by the State Environmental Protection Administration of China and the Italian Ministry of Environment. It has a total investment of 100 million Euros. All of them use advanced European technologies and equipment. The technology is globally leading and the exhaust emissions have reached the Euro V standards. After completion, it can form an annual output of 500,000 sets of production capacity, increase sales revenue by 5 billion yuan, and create 2,000 new jobs. This project can not only produce higher economic benefits, but also contribute to the environmental protection of the entire society, and has dual values ​​of economy and society.

The implementation of this project will expand the business scope of Huaqin Group from the rubber industry to the environmental protection field, adding new economic growth points for the development of Hua Qin Group, and will further enhance the comprehensive strength of Hua Qin Group. Hua Qin Group will thus become an important supplier of automotive environmental protection products in China.