ID :
24945
Thu, 10/16/2008 - 19:10
Auther :
Shortlink :
https://www.oananews.org//node/24945
The shortlink copeid
Mando forms joint venture with German auto parts firm
SEOUL, Oct. 16 (Yonhap) -- South Korean auto parts maker Mando Corp. said Thursday it has set up a 65-billion-won (US$48.5 million) joint venture with Germany's auto parts supplier Hella KGaA Hueck & Co.
A deal was signed earlier in the day to form the 50:50 venture to produce devices
that assist drivers in parking their vehicles or recognize the lane that a
vehicle is travelling in, Mando said in a statement.
The venture, named Mando-Hella Electronics, will start building a plant in South
Korea early next year and begin production in July of the same year, according to
the statement.
A deal was signed earlier in the day to form the 50:50 venture to produce devices
that assist drivers in parking their vehicles or recognize the lane that a
vehicle is travelling in, Mando said in a statement.
The venture, named Mando-Hella Electronics, will start building a plant in South
Korea early next year and begin production in July of the same year, according to
the statement.
