(Yicai Global) Oct. 9 -- Shandong Linglong Tire will sign a cooperation agreement with well-known local tire dealerSunsettojack up the market share ofits tires in Brazil and Paraguay.

The companyplans to sign thecontract with Sunsetin Sao Paulo, Brazil on Oct. 12,thetire makerheadquartered in China's eastern Shandong province announced yesterday.

Sunset, based in Ciudad del Este, Paraguay,will buyover USD300 millioninproducts from Linglong from next year to 2021, and the amount Sunset imports intoBrazil and Paraguay from Linglongeachyearmustexceed 10 percent ofthe totalnumber of its tires boughtfrom China, per the agreement.

Sunsetalso pledges to open at least 30 stores selling Linglong tires and 60 Linglong-branded tireoutlets in major cities in Brazil and Paraguay, including their capitals, within the next three years, with at least fiveoutlets selling the company'stires and 20 Linglongmarqueestores added per year and to promotethe company'sproducts in the two countries.

The partieswillsubsequentlynegotiate details on sharing the cost of opening stores and means ofsettlement,theannouncement added.

Editor:BenArmour