UzSungwoo starts to export its products to Brazil
19/02/2015 14:39
UzSungwoo starts to export its products to Brazil
19/02/2015 14:39
Tashkent, Uzbekistan (UzDaily.com) -- UzSungwoo, an Uzbek-South Korean joint venture on production of stamped details for new models of cars, produced at GM Uzbekistan, started to export its products in Brazil.
The press service of Uzavtosanoat said that UzSungwoo exported the first party of automobile components to General Motors do Brasilia LTDA (Brazil).
The Brazilian company received samples of the products of UzSungwoo during negotiations on cooperation.
After approval from General Motors do Brasilia LTDA, the sides signed an agreement on supply of automobile components, which was signed in August 2014. The volume and sum of the contract was not disclosed.
UzSungwoo was founded in April 2011. Uzavtosanoat and Sungwoo Hitech Ltd. have equal share in the company, which has charter capital of US$14 million. The designed capacity of the venture is 125,000 sets of components a year.
Currently, UzSungwoo produces about 120,000 sets of stamped details of cars. The company can produce 183 types of components to Cobalt cars.
The venture currently is working on expansion of production. It started to produce three stamped details in early 2015. UzSungwoo soon plans to launch production of new goods.
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