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| 2008-01-23 |
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Grupo Antolin and Ningbo Huaxiang Electronic to sign Joint Venture Contract
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Grupo Antolin (www.grupoantolin.com) has announced that it has signed a 50/50 joint venture agreement with Ningbo Huaxiang Electronic Co., Ltd, for development, manufacturing and sale of pillars and door panels in China. The joint venture called Ningbo Antolin Huaxiang Auto Parts Co., Ltd. is located in Ningbo in the Jiangbei province (East China) and started production in January 2008. During the first three years it is expected to generate a turnover of 30 million euros by investing approximately 10 million euros. Advert This new company will reinforce Grupo Antolin presence in China and will strengthen its position as a manufacturer of interior products not only in Overhead Systems but also in Door Function, consolidating the industrial capability in this country.
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Grupo Antolin-Irausa, S.A., Burgos, Spain
