HONG KONG, Mar 5, 2015 - (ACN Newswire) - Freetech Road Recycling Technology (Holdings) Limited ("Freetech", or the "Group;" stock code: 6888), a leading and fast-growing service provider in the asphalt pavement maintenance ("APM") industry using "Hot-in-Place" recycling technology, today announced that it had been the second time for the Group to take Ningbo municipal road maintenance order and successfully complete the project.
Ningbo City is a sub provincial city in Zhejiang Province of the People's Republic of China, the hub of the Yangtze River Delta Region and the economic centre of Zhejiang Province. In addition, the largest domestic cargo throughput, Ningbo-Zhoushan Port is also located in Ningbo City. Jiangnan Road, where the road maintenance services were provided, is the main east-west road of Ningbo City. The maintenance area had intersections with six north-south roads and high traffic volume of heavy vehicles went to the port. Also, the road foundation is made from the soft soils which allow the cracks damage easily emerges on the asphalt surface. Under these conditions, the owner more focused on the quality and the speed of the road maintenance.
By using the patented Hot-in-Place recycling technology and equipment, the Group only took half of the duration as scheduled in the contract and successfully cured the cracks damage. A qualified independent third party testing institution has issued a report stating that the test indexes of this project after the road maintenance services have satisfied the national regulatory requirements. Meanwhile, the Group technology has increased the shear resistance of the road by two to three times which can postpone the emergence of the damage in the future.
Besides, this was the second time for the Group to obtain the road maintenance contract, following the successful completion of Ningbo municipal road maintenance work in August, 2012.
About Hot-in-Place TechnologyHot-in-Place Technology is used in asphalt pavement maintenance, an on-site, in-place technology that rehabilitates deteriorated asphalt pavements through heating, scarifying and mixing the damaged asphalt materials with new materials and thereby minimises the use of new materials. The primary purpose of this process is to repair pavement damages such as cracks, ruts and holes, and bumps.
About Freetech Road Recycling Technology (Holdings) Limited
Freetech Road Recycling Technology is the asphalt pavement maintenance ("APM") service provider renowned in the sector for its Road Doctor brand with patented Hot-in-Place Recycling Technology as well as the manufacturer and seller of a wide range of APM equipment. As at 30 June 2014, the Group owned 94 registered patents and had 8 patent applications pending in Hot-in-Place Recycling Technology and related equipment. The Group has also established nine joint ventures and associates across China including Hunan, Inner Mongolia, Jiangsu, Fujian, Xinjiang and Guangdong in order to expand its customer base across the country.
Source: Freetech Road Recycling Technology (Holdings) Limited
Contact:
Freetech Road Recycling Technology (Holdings) Limited Tel: (852) 2330 9600 Email: ir@freetech-holdings.hk, or enquiry@freetech-holdings.hk Fax: (852) 2363 7987 Strategic Financial Relations Limited Vicky Lee Tel: (852) 2864 4834 Email: vicky.lee@sprg.com.hk Stephanie Liu Tel: (852) 2864 4852 Email: stephanie.liu@sprg.com.hk Fax: (852) 2527 1196
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