APM part­ners Delta Ko­gyo on au­to­mo­tive seat­ing sys­tems

The Sun (Malaysia) - - SUNBIZ -

PETAL­ING JAYA: APM Au­to­mo­tive Hold­ings Bhd is part­ner­ing Delta Ko­gyo Co Ltd to de­velop, man­u­fac­ture, as­sem­ble and sell au­to­mo­bile seat­ing sys­tems for Mazda Mo­tor Corp ve­hi­cles.

In a fil­ing with the stock ex­change last Fri­day, APM said its wholly owned sub­sidiary Auto Parts Hold­ings Sdn Bhd en­tered into a joint ven­ture (JV) agree­ment with Delta Ko­gyo for the part­ner­ship.

APM and Delta Ko­gyo will own 60% and 40% equity in­ter­est in the JV com­pany, re­spec­tively. The JV com­pany will have an is­sued and paidup share cap­i­tal of RM23 mil­lion.

APM said its in­vest­ment in the JV will be fi­nanced with in­ter­nally gen­er­ated funds. It is ex­pected to gen­er­ate rea­son­able re­turns in the longer term.

As Delta Ko­gyo is one of the tech­ni­cal part­ners of APM Group in Malaysia, APM be­lieves the JV will en­hance and strengthen its re­la­tion­ship with Delta which will en­able both par­ties to lever­age on each other’s knowl­edge and ex­pe­ri­ence to bring greater syn­ergy in their ex­per­tise and know-how in the de­sign, devel­op­ment man­u­fac­ture, assem­bly and sale of au­to­mo­tive seats.

Ja­pan-in­cor­po­rated Delta is in the busi­ness of de­sign­ing and man­u­fac­tur­ing au­to­mo­tive seat­ing and seat­ing parts, de­vel­op­ing seat­ing for trains, air­planes, ships and for homes, theatres and hos­pi­tals.

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