DENVER, Colo. – Stackpole Ltd., part of the Gates Powertrain business, has entered a joint venture agreement with Halla Group of Korea to produce automotive parts. Stackpole Ltd., and Halla Group will combine their technology, market share and experience in the powder metallurgical sector. Stackpole will own 30 percent of the equity in this joint venture initially.

The company will be called Halla Stackpole Corp. and will be located at a new site in the Ochang Scientific Industrial Complex, Cheongwon-gun, Chungcheongbuk-do, Korea, and will establish a subsidiary in China. This joint venture will enable the Gates Stackpole business to enter the highly attractive Asian markets with a local partner and grow the business through their combined expertise in this technology area.

“This is a strategically important joint venture for Gates and for our Stackpole business” said Robert Willig, president of Gates Powertrain business. “It will enable our continued growth in Asia and expand opportunities to provide products and services to our customers in the region.”