HomePreviewsReviewsNewsCrossroadsGalleryTips & GuidesContactTestPage
News
DRB-Hicom unit in JV with German parts maker
Sunday, September 09, 2012 6:34 PM

DRB-Hicom unit in JV with German parts maker

KUALA LUMPUR: Hicom Polymers Industry Sdn Bhd (HPI), a wholly-owned subsidiary of DRB-Hicom  Bhd, has signed a joint venture (JV) agreement with HBPO GmbH, to design, develop and supply front-end modules (FEM) for vehicle Original Equipment Manufacturers (OEM) in Malaysia.

HPI will have a 60 per cent stake in the joint venture company, Hicom HBPO Sdn Bhd, which will have proposed initial issued and paid-up capital of RM3 million, while HBPO will hold the balance of 40 per cent.

The JV marks another significant milestone for DRB-Hicom  towards realising its aspiration to become an automotive industry leader in the region as both parties intend to have this cooperation extended to other ASEAN countries to expand their footing in the region, DRB-Hicom  said in a statement on Friday.

It said with this establishment, Hicom  HBPO will be able to introduce new modular automotive engineering products to not only the Group's stable of manufactured components but to the other OEMs as well.

"Not only will Hicom  HBPO introduce a new range of state-of-the-art automotive engineering products to the industry, the JV will also spearhead the transformation of DRB-Hicom 's component manufacturing companies into a respectable Tier-1 manufacturing and engineering regional manufacturer and supplier with full 'black box' design capabilities," said group managing director of DRB-Hicom  Datuk Seri Mohd Khamil Jamil.

In a filing with Bursa Malaysia, DRB-Hicom said the proposed JV will be for a tenure of 10 years with the option to renew for another 10 years.

It said after the JV in Malaysia has been successfully established, HPI and HBPO plans to set up a JV in another Asean country under the name of HBPO-Hicom  Limited.

It said HBPO will have a 60 per cent stake in the Asean JV while HPI will hold the balance of 40 per cent.
 -Bernama

Related

» None
COMMENT
Image not found
Image not found
Image not found
Get Answer
About TOC

The modern car is one of the most sophisticated machines ever created. Dozens of control systems and computer processors work together to ensure it works seamlessly and effectively day in and day out.

But machines do break down occasionally. The technical team of The Otomotif College (TOC) is here to offer advice and help troubleshoot car problems

The team of seven trainers, led by Allan Cabiles (pic), has collectively 30 years of experience in a wide range of car makes. The TOC Team prides itself on keeping pace with the ever-evolving automotive industry. Its trainers undergo training sessions with a network of 800 industry partners across the country.

With such an extensive body of knowledge, think of the TOC Team as your go-to automotive experts.

Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D) | Privacy Statement