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DURA Automotive Enters Technical Alliance to Bring DURA Products and Technology to Indian and Asian Markets
April 24, 2007
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ROCHESTER HILLS, MI and BANGALORE, India -- DURA Automotive Systems has entered into a technical alliance with Aditya Auto Products and Engineering Pvt. Ltd., based in Bangalore, India, to bring new automotive technologies to the growing domestic Indian and Asian markets. DURA will supply technology to Aditya for the manufacture of products such as pedals, parking brakes, shifters and spare tire carriers. Aditya will produce the parts and provide local support to automotive OEMs in the region.

“Establishing a manufacturing presence in India is a key component of our global growth strategy, which is designed to leverage DURA technology investments and provide local support to customers anywhere in the world,” said Larry Denton, DURA Automotive’s chief executive officer. “The DURA and Aditya partnership opens significant opportunities for us in fast-growing automotive markets.”

By 2012, India is projected to be the seventh largest automobile producer in the world. The establishment of the alliance in Bangalore, a major Indian market, also provides access to neighboring Asian markets.

DURA and Aditya anticipate that the alliance will commence manufacturing of DURA components in India by the first quarter of 2008. DURA will contribute designs, intellectual property and technical resources. Under the terms of the agreement, the alliance is planned to become a joint venture in three years and after certain milestones are achieved. Once initiated, the joint venture will operate under the name Aditya DURA Pvt. Ltd.

For more information about Aditya Auto Products and Engineering India Pvt. Ltd., http://www.adityaauto.com.

For more information about DURA Automotive Systems, go to: http://www.duraauto.com.