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IHI and Hyundai WIA Launch Vehicle Turbocharger JV in South Korea
 

Tokyo, Aug 9, 2013 (JCN) - IHI Corporation concluded a JV Agreement for its Vehicular Turbocharger business on 8th August with Hyundai WIA Corporation, a major automobile parts manufacturer and a major subsidiary of Hyundai-Kia Motor Group, the top South Korean automobile manufacturer.

The Vehicular Turbocharger business unit of IHI Group has seven plants world-wide and keeps its sustainable growth to the target at 7 million units per year production in FY2015.

Market demand continues to grow as new applications in line with new down-sized engines and government regulation for fuel consumption and exhaust emission. IHI Group's Turbocharger business aims at a target of 10 million units per year sales.

The Vehicular Turbocharger business unit of IHI Group is already the No.1 brand in Asian markets, including China, Japan and Thailand. IHI is strengthening its position as the No.1 brand in Asia through the joint-business in South Korea.


By Jun Ota Staff Writer

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ACN Newswire

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