INGRS Establishes a JV in Malaysia to Produce and Supply High-Tensile Products
INGRS establishes a new JV company to carry on the business as a manufacturer and supplier of high-tensile products to be developed and manufactured.
Ingress Industrial (Thailand) Public Company Limited (INGRS) has announced that on October 14, 2019, INGRS via its subsidiary company, Ingress Technologies Sdn Bhd (ITSB) had entered into a joint venture agreement with Perodua Auto Corporation Sdn Bhd (PCSB) and AOI Machine Industry Co., Ltd (AOI) to establish a new joint venture company in Malaysia.
The purpose of this new joint venture is to carry on the business as a manufacturer and supplier of high-tensile products to be developed and manufactured using certain technology of pressing and weld assembly process particularly the high-tensile technology for stamped product and assembly for the automotive industry.
ITSB will hold 51% (INGRS effective equity interest of 35.7%) of the shares in this investment while AOI holds 34% and PCSB holds 15%. Total Investment of ITSB is 229,500,000 baht.