KUALA LUMPUR, Sept 7 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)