Pelmar Engineering, China’s TST reach settlement

Ramat-Hasharon, Israel –Pelmar Engineering Group, an Israeli-based supplier of machinery and engineering for the tire and rubber industry, has announced that its recent conflict with Chinese company Tianjin Saiziang Technology Co. Ltd (TST) has been settled.

“Our conflict with TST has ended and they have paid part of their debt as a compromise,” Pelmar’s CEO Jacod Peled told ERJ, without giving further information on the terms of the settlement.

In August 2014, Pelmar filed a legal claim of more than $800,000 (€734,000) in the Chinese Intermediate Court at Tianjin against TST for non-transference of payments due.

According to Pelmar's claim, the company had introduced TST to clients outside of China and assisted in the sale and promotion of TST's machinery. However, it said,, the Chinese company had refused to fully pay Pelmar the commission it was entitled to under the agreement.