Tier 1 supplier Inteva has acquired majority ownership in Korean Door Systems (KDS), its joint venture with SL Corp.
Inteva was equal partners with South Korea’s SL Corp. prior to the new agreement, which was effective March 30.
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KDS currently engineers and manufactures products for the Closure Systems Product Line, as well as power folding actuators and glass actuators for outside mirrors for SL Corporation. Late last year, KDS began manufacturing its first business for the Motors & Electronics Product Line.
“We’ve enjoyed two decades of partnership with KDS. Majority ownership will further facilitate Inteva’s ability to expand our product line offerings in Korea,” Lon Offenbacher, Inteva Products CEO and president, said in a statement. “In the near future, Inteva plans to expand Motors & Electronics business in Korea through KDS, as well as explore growth opportunities for other product lines in that region over time.”
KDS currently supports customers such as Hyundai, General Motors Korea, Ssangyong Motor, Volkswagen, PSA, Renault Samsung Motors and Renault.
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