DRB-Hicom forms auto parts JV with HBPO
KUALA LUMPUR, Sept 7
KUALA LUMPUR, Sept 7 (Reuters) - Malaysian conglomerate DRB-Hicom Bhd, which wants to expand its presence in the car market, has formed a joint venture with parts maker HBPO GmBH to design, develop and supply front-end modules.
The deal was between DRB's HICOM Polymers Industry Sdn Bhd unit and HBPO, presently the biggest manufacturer of FEMs.
FEMs are assemblies that, typically, integrate components such as forward lighting, radiators, cooling fans, and air conditioning condensers.
DRB-HICOM recently purchased a 42.7 percent stake in local carmaker Proton for $412 million from state investment arm Khazanah, the year's largest divestment for the latter. (Reporting By Al-Zaquan Amer Hamzah; Editing by Dan Lalor)
- Alibaba IPO ranks as world's biggest after additional shares sold
- Study of smoking cancer patients fuels e-cigarette debate
- Exclusive: Iran seeks give and take on Islamic State militants, nuclear program
- Islamic State closes in on Syrian town, refugees flood into Turkey |
- Accused White House intruder is decorated Iraq war veteran