DRB-HICOM SUBSIDIARY SIGNS JOINT VENTURE WITH FAURECIA EMISSIONS CONTROL TECHNOLOGIES
Shah Alam, 4 October 2012 - As part of its expansion plans, Oriental Summit Industries Sdn. Bhd. (“OSI”), a subsidiary of DRB-HICOM Berhad (“DRB-HICOM” or “the Group”) today signed a Joint Venture Agreement (“JVA”) with Faurecia Exhaust International SAS commonly known in the market as Faurecia Emissions Control Technologies (“FECT” or “Faurecia”), to manufacture, assemble, deliver and sell automotive exhaust systems and vehicle components for Original Equipment Manufacturers (“OEMs”) in Malaysia via a joint-venture company, Faurecia HICOM Emissions Control Technologies (M) Sdn. Bhd (“Faurecia HICOM”).
The signing of the JVA was witnessed by YBhg Dato’ Sri Haji Mohd Khamil Jamil, Group Managing Director of DRB-HICOM Berhad at Holiday Inn Kuala Lumpur Glenmarie, Shah Alam. Encik Radzaif Mohamed, Director of OSI, signed on behalf of OSI, while Mr. Jean-Marc Hannequin, Executive Vice President of FECT signed on behalf of FECT, witnessed by Mr. Arnaud Lesschaeve, Vice President, Asia Division, FECT.
Faurecia, is a specialist in engineering and production of automotive solutions, holds global leadership status in each of its core businesses: Automotive Seating, Emissions Control Technologies, Interior Systems, and Automotive Exteriors. The group delivers support to customers in the automotive industry through an active joint development policy, from defining requirements to pre-commercialising.
With Faurecia’s expertise in complete exhaust systems, the JVA will enable automakers to comply with increasingly stringent international anti-pollution standards with high quality products while keeping costs under control.
“This joint venture couldn’t have been timelier as it will pave the way for the introduction of new emission control technology products to the Group, in line with the current global trend towards Energy Efficient Vehicle (“EEV”) to better serve our vehicle OEM customers and partners,” said YBhg Dato’ Sri Haji Mohd Khamil Jamil.
Today’s event marks another significant milestone towards realising DRB-HICOM’s aspiration of becoming the automotive industry leader, not only Malaysia, but also in the region. Just last month, the Group, through another subsidiary HICOM Polymers Industry Sdn. Bhd. signed a JVA with another global leader HBPO GmbH to design, develop and supply front-end modules for vehicle OEMs.