MCE Holdings to bank on Sandhar to penetrate Indian market

KUALA LUMPUR: Automotive parts manufacturer, MCE Holdings Bhd is set to penetrate India’s market for automotive, electronic and mechatronic parts via its tieup with Sandhar Technologies Ltd.

MCE Holdings in a filing to Bursa Malaysia said its whollyowned unit, Multi-Code Electronics Industries (M) Bhd (MCEI), had entered into a Memorandum of Understanding (MoU) with Sandhar today to facilitate the cooperation. The MoU was for the purpose of setting forth a framework for the consultation and exchange of information and technology, it said.

“The cooperation in the current stage shall focus on the development, production, marketing and supply of MCEI’s existing range of products for automobile manufacturers located in India, and if so desired and mutually agreed by both parties, be extended to other electronic and mechatronic parts and systems,” said the company.

This MoU would enable MCEI to further penetrate the Indian market, consistent with its strategy to increase its presence in the Asian region, it said.

“MCEI and Sandhar will be able to rationalise the cost effectiveness in the manufacture and supply of products and improve the overall competitiveness in the India market,” it said. Sandhar’s corporate office is in Haryana, India.

Since its inception in 1987, the group has grown into a mediumsized automotive component supplier, counting most of the Indian automotive original equipment manufacturers as its customers.

MCE Holdings said both parties would use their best endeavours to source for business opportunities and to check and confirm the viability of the collaboration between the parties.

“Upon the confirmation of business opportunities and viability of the collaboration, both parties shall enter into a definitive agreement to set forth more specifically their terms of collaboration in the form of technical assistance.” — Bernama