The company’s Vietnam-based subsidiary, APM Automotive IndoChina, has signed an agreement to set up a joint venture with the Thai subsidiary of Japan’s Tachi-S, according to a filing to the Malaysian stock exchange.
The joint venture will be incorporated in Vietnam as APM Tachi-S Seating Systems Vietnam with an initial capital of US$2.5m. APM Automotive IndoChina will hold 49% of the equity in the joint venture.
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