Tianjin Saixiang Technology, a manufacturer of processing equipment for radial tires, won a $24.77 million contract from India's Balkrishna Industries to supply engineering tire molding machines and related products by February 2013, reports stcn.com, citing a company filing.
According to Saixiang Technology, the value of the contract is equivalent to 30 percent of 2010 sales revenue, and the contract will have a positive impact on earnings in 2012 and 2013.
Shares of the company rose 7.06 percent to close the morning session at 10.92 yuan per share.
