TYME Reach Joint Venture Agreement with CFHI Tianjin Heavy Industries Co., Ltd. and Design and Research Institute of USTB Co., Ltd.

TYME management team has recently reached a joint venture agreement with CFHI Tianjin Heavy Industries Co., Ltd. and Design and Research Institute of USTB Co., Ltd.

Xi’an Tengye Metallurgical Engineering Co., Ltd. is a general equipment supplier with iron and steel metallurgical technology and ferroalloy smelting equipment and process technology, TYME had excellent performance in all-round service areas such as project consulting, smelting process design, engineering design, equipment supply, construction, operation management, and overseas market expansion. TYME has signed more than ten overseas engineering project contracts worldwide, providing a variety of products and services including designing, consulting, complete supply, general contracting and production technology services, with performances in Japan, Iran, Indonesia, Tajikistan, Vietnam, Russia, Slovakia, etc., and signed strategic cooperation agreements with foreign experienced metallurgical engineering companies. In the past decades, TYME devote itself to promoting its products to the international market as high-quality items, and providing integrated solutions for users of steel companies all over the world.

University of Science and Technology Beijing Design and Research Institute Co., Ltd, owning two national engineering research centers-NERCAR and NERCFRE, is a modern high-tech enterprise integrating scientific research, design, engineering and service. DRI.USTB is mainly engaged in the design, development, and installation as well as commissioning in metallurgical industry automation engineering, network engineering, computer information system integration and application software design. By aiming at major domestic strategic needs and the industry and the key common technical needs, DRI.USTB has enjoyed fast development continuously and performed the integrating progress of innovation and application of scientific research, and also carried out engineering and industrialization promotion. Up till now, DRI.USTB is entitled to excellent technology research and development team as well as a number of independent intellectual property products.

The three Parties shall, through implementing the spirit of the 19th National Congress of the Communist Party of China, adhering to the development concepts of innovation, coordination, greenness, openness, and sharing, following the requirements of the CPC Central Committee and the State Council of accelerating the implementation of the innovation-driven development strategy as well as the requirements to build an innovative country, give full play to the complementary advantages of all Parties and strengthen comprehensive cooperation in technological innovation. In accordance with the principles of "mutual benefit, focusing on practical results, comprehensive cooperation, and key breakthroughs", the three Parties shall also provide strong support for improving corporate competitiveness and sustainable development on the basis of metallurgical industry's manufacturing, producing, technology, service needs and own needs as well as combining the market development, scientific and technological research, key technology industrialization and the development of overseas markets.

TYME is responsible for the development of overseas markets, the related overseas business negotiations, signing, commerce, import-export etc. on behalf of the other Parties. At the same time, TYME is technically responsible for smelting related processes, equipment design, supply, installation guidance and commissioning services etc.