Atlas group, Denso establish joint venture

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KARACHI: The Atlas group and Denso corporation announced on Friday to establish a joint venture in Pakistan to manufacture motorcycle parts in the country.

The new company, Atlas Hitec (Pvt.) Ltd., will be established in September 2012. The project, Atlas Hitec, will be launched with an investment of $7.2 million and its commercial production is projected to start from October 2013.

The motorcycle industry in Pakistan expects a strong growth. The new company will utilise Atlas groupís abundant business expertise and Densoís technologies for motorcycle parts, to produce products that meet the market needs of the country. Furthermore, the agreement marks a significant milestone in the collaboration between the two companies and cements an already excellent cooperation between them.

The agreement was signed by Yusuf H. Shirazi, chairman Atlas Group and Michio Adachi, senior executive director of Denso.

Courtesy: †The News

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