To accelerate the international export of conveyer belt, Zhejiang Double Arrow Rubber Co., Ltd. and 3 shareholders of Australian International Conveyor Products Pty Limited (ICON) signed a Share Purchase Agreement on November 27, in which Double Arrow agreed to purchase 60% shares of ICON with RMB 11.272 Million Yuan.

Founded in 2007, ICON engages in sales of all types of conveyer belts. After this share transfer, ICON will become a share-holding subsidiary of Zhejiang Double Arrow, which will contribute to broadening sales channels in overseas markets and improving the foreign export capacity of Double Arrow.

ICON completed the operation revenue of 69.6 Million Yuan and net profit of 2.97 Million Yuan in 2014. For the first 9 months this year, its operation revenue was 39.06 Million Yuan and the net profit was 86,000 Yuan.