SPAIN: Grupo Antolin and NHK Spring’s Thai unit to set up auto headliners JV
Grupo Antolin and NHK Spring's Thai unit are establishing a joint venture (JV) in Thailand to manufacture automotive headliners. The new company will be based in Bangkok and will be named NHK Antolin Thailand.
NHK Antolin Thailand will manufacture components for the major automakers in Thailand - Ford, Nissan, Honda, General Motors, Isuzu and Mitsubishi, reported Plastics News. The new company will employ around 100 people and is anticipated to generate a turnover of EUR23m (US$29.5m) in 2014.
Antolin said in a statement: "This joint venture marks an important milestone and allows us to reinforce our positioning in Southeast Asia, a region of sustained growth with a suggestive and promising market." Antolin added that Thailand will manufacture 2m cars by the end of this year and aims to reach 3m in 2016.
Antolin added: "(The JV) will enable us to become a major player in Thailand in the field of headliner development and manufacturing."
The partnership between Grupo Antolin and NHK Spring started when Antolin sold a technological licence to NHK Spring in August 2008 to make headliners.