Atlas, DENSO Joint Venture Inaugurated

September 19, 2013 Off By Web Desk

KARACHI: Atlas Hitec Private Limited held its plant inauguration ceremony today marking the official start of its commercial production. The new Company is a Joint venture between Atlas Group and Denso Corporation, Japan in which Atlas Group and Denso Corporation hold 74% and 26% ownership, respectively. Both Atlas Group and DENSO are renowned names in the manufacturing and marketing of auto products.

Akira Ouchi, Consul General of Japan inaugurated the plant. Haruya Maruyama and Michio Adachi Executive Managing Directors from Denso Corporation and Saquib H. Shirazi CEO and Hisao Kobayashi Director from Atlas Honda attended the inauguration ceremony.

Atlas Hitec Private Limited was incorporated on September 13, 2012. With an initial combined equity investment of $ 7.2 million, the Company will produce motor cycle products that meet the market need in Pakistan by utilizing Atlas Group’s abundant business expertise in the country and DENSO’s technologies for motorcycle parts. The advanced manufacturing plant will utilise the latest technology available in the production process and, at the same time, meet the highest environmental requirements for producing Honda motorcycles. Initially, the Company will employ upto 300 employees.