New Delhi, Dec 20 (PTI) Auto component maker SandharTechnologies today said it has inked a joint venture pact withSouth Korea's Daeshin Machinery to manufacture and marketproducts in India and abroad.
The partners, with 50:50 stake in JV firm, have agreed tomanufacture and sell products such as gear shifters, automaticshifters, manual shifters, parking brake levers, e-shiftersand among others, Sandhar Technologies said in a statement.
Currently, Daeshin manufactures these products in Koreato supply to OEMs in India and aboard.
In the first phase, the Korean firm will send products orsub-parts to the joint-venture to facilitate the joint-venture's production and supply to OEMs.
In the second stage, the joint-venture will localise theparts which are agreed by both parties and produce and supplyto OEMs in the country.
"By expanding our product portfolio, the joint venturewill enable us to support a bigger market," SandharTechnologies Co-Chairman & Managing Director Jayant Davarsaid. PTI MSSMKJ.
This is unedited, unformatted feed from the Press Trust of India wire.