TBK has entered into a joint venture with an affiliate of China's largest automobile manufacturer, China FAW Group, wherein TBK will manufacture and market friction materials.

1) Paid-in capital: CHY38 million (US$4.6 million)
2) Controlling share: 60%
3) Scheduled date of establishment: June 2005
4) Commencement of operations: November 2005
5) Production and marketing targets: China FAW Group manufactured trucks and buses