LUMPUR, May 18 (Bernama) -- Sapura Automotive Industries
Sdn Bhd (SAISB), hoped to further tap into the growing
Iranian and regional automotive markets with the recent
signing of the Completion of the Joint Venture (JV)
Agreement of Isfahan Fanarsazan Co between Sapura,
I.S. Gostar (M) Sdn Bhd and Ikad Research & Production
The company, a wholly-owned subsidiary of Sapura Industrial Bhd, also signed
a Certificate of Final Acceptance for the completion of a production line complete
with automation for Isfahan Fanarsazan Co to manufacture automotive Stabilizer
Bars, Sapura said in a statement released, here Wednesday.
Both signings were held in conjunction with the Iran Malaysian Exchange 2005
(IMEX '05) which was held in Esfahan, Iran and officiated by Prime Minister Datuk
Seri Abdullah Ahmad Badawi and the Governor of Esfahan, Mahmoud Husseini.
Sapura Automotive contributes to the JV by providing technical assistance and
expertise including the supply of production equipment and machinery.
I.S. Gostar (M) Sdn Bhd is a Malaysian registered company that is an investment
arm for Isfahan Samangostar Holding Co, whose business activities include manufacturing,
property development, construction and trading in Iran.
Meanwhile, Ikad Research & Production Co is an Iranian automotive manufacturing
company that produces stabiliser bars, torsion bars and other OEM components.
For 2005 alone, total auto sales for Iran is estimated to be 850,000 units and
this is expected to increase to 1.2 million units by 2010.
In another development, Asia Pacific University College of Technology and Innovation
(UCTI), a subsidiary of Sapura Resources Bhd signed a Memorandum of Understanding
(MoU) with Isfahan University of Technology (IUT) and Isfahan Samangostar Holding
It was aimed at exploring opportunities for possible collaboration in joint academic
programmes, research and development, student transfer and faculty exchange between
the two universities.
IUT is ranked among the top five state universities in Iran and offers engineering
and technology courses. ISH shall contribute to the collaboration and provide
financial resources. Through this collaboration, the two universities would leverage
on their combined areas of expertise to develop new and innovative programmes
in Iran and Malaysia.
UCTI's expertise in ICT and IUT's capabilities in life sciences and engineering
would enable both universities to develop programmes and to embark on joint research
projects in areas such as Biotechnology, Environmental Technology and Nanotechnology.