TROY, Mich.— Inteva Products LLC, a global automotive supplier of engineered components and systems, has taken majority ownership in its joint venture with SL Corp., called Korean Door Systems (KDS). This strategic business decision, which became effective March 30, will enhance Inteva and KDS’ growth and product line expansion opportunities, Inteva says.
KDS originated out of a joint venture between Delphi and SL Corp. in 1995. Prior to Inteva acquiring majority ownership in KDS, SL Corp. and Inteva were equal partners. KDS currently engineers and manufactures products for the closure systems product line, as well as power folding actuators and glass actuators for outside mirrors for SL Corp. Late last year, KDS began manufacturing for the company’s motors & electronics product line.
“We’ve enjoyed two decades of partnership with KDS. Majority ownership will further facilitate Inteva’s ability to expand our product line offerings in Korea,” said Lon Offenbacher, Inteva Products CEO and president. “In the near future, Inteva plans to expand [its] Motors & Electronics business in Korea through KDS, as well as explore growth opportunities for other product lines in that region over time.
KDS currently supports customers such as Hyundai, General Motors Korea, SsangYong Motor, Volkswagen, The PSA Group, Renault Samsung Motors and Renault.
