KUALA LUMPUR (Oct 28): APM Automotive Holdings Bhd has formed a 60:40 joint venture (JV) with Japan's Delta Kogyo Co Ltd to develop automobile seating system for Mazda cars. APM said the investment in the JV company will be financed through internally generated funds. The company said the move creates the opportunity for the JV company to supply completely knocked-down (CKD) seats, seat frames and components into the Asean market. According to APM, the automotive industry is poised to grow in the upcoming emerging markets in the ASEAN region. Delta was incorporated in Japan in 1953 and is in the business of designing and manufacturing automotive seating and seating parts, and developing seating for trains, airplanes, ships and for homes, theatres and hospitals.

Source: The Edge Markets October 28, 2016 11:09 UTC