Sandhar Technologies Ltd. and Daewha Fuel Pump Ind. Ltd., have signed a 50:50 joint venture agreement to supply fuel pumps, filters and wiper blades to Indian automotive OEMs.
Expanding its component business, Sandhar Technologies signed a 50-50 joint venture agreement with Daewha Fuel Pump Ind. on May 18. The joint venture company will supply fuel pumps, filters, wiper blades to Indian automotive OEMs.
The joint venture was signed in the presence of Mr Cho Hyun, the Korean Ambassador to India. Addressing the gathering Mr Hyun acknowledged the growing relationship between the Governments and people of India and Korea and wished the joint venture between Sandhar and Daewha a great success.
Mr Jayant Davar, Co-Chairman & MD, Sandhar Technologies, said, “with this joint venture we have taken one more step towards realising our objective of becoming a more diverse supplier to the Indian automotive OEMs.”
Mr Dong Ok You, CEO & Chairman, Daewha Fuel Pump, said, “We are honored to join the Indian market which has a big potential through a joint venture with Sandhar. I expect sustainable development and growth, through the combination of the strengths of both the companies.”
Sandhar Group is a fast growing auto component major with over 6,500 employees, 34 manufacturing plants and subsidiaries in Spain, Mexico and Poland. The company has a diverse product range that comprises lock kits, mirrors, handles, latches, hinges, stamped and tubular components, plastic injected components, zinc & aluminium pressure die castings, relays, fuel level senders, operator cabins, canopies, housings, panels, switchboards, control cabinets, molds, dies and structural parts for off highway vehicles. It also supplies steel wheel rims & assemblies, handle bars, clutch and brake panels to the two-wheeler manufacturers.
Daewha Fuel Pump Ind., is a manufacturer and supplier of fuel pumps and filters for automotive and industrial usages to over 70 countries in the world. Over three decades, the company has become a leader in domestic and international automotive markets. Some of its customers are GM Korea, Bosch, Delphi, Hyundai, Doosan, Federal- Mogul, Mitsubishi Electric, Tata Telco etc. Globally, it has an enterprise ranking of first in the field of mechanical fuel pump. The main R&BD center is located in Korea, while the manufacturing facilities are spread over Korea and Vietnam. The diverse product range includes mechanical fuel pumps, electric fuel pumps, electric fuel modules, oil filters and strainers, air filters, wiper blades etc.