Zoom Developers partners with China’s YAPP Automotive Parts CompanyNovember 22nd, 2007 - 9:38 pm ICT by admin
Mumbai, Nov 22 (ANI/Business Wire India): Zoom Developers Pvt. Ltd., the flagship company of Zoom Enterprises, and YAPP Automotive Parts Company Ltd. of China are entering in to a 49:51 joint venture partnership to set up an automotive plastic fuel tank manufacturing facility in Chennai, with production to commence in 2009.
The envisaged investment is to the tune of 14 million USD in the initial phase.
The proposed facility in Chennai will attempt to address the car or SUV segment with the product in the 30-75 litres capacity.
Sun Yan, President, YAPP Automotive Parts Ltd, said, “YAPP wants to be the pioneer to introduce Plastic Fuel Tanks to Indian OEM’s and sees the adoption rate increasing rapidly in India. YAPP-ZOOM Automotive Systems is committed to bring to India the latest technology and excellent manufacturing practices. Depending upon the success of this venture YAPP and its shareholders are prepared to invest in expanding facilities in not only Plastic Fuel tanks, but also Plastic Fuel Systems. In Zoom we have found an able partner and look forward to a long association.”
Manjri Choudhary, President, Zoom Developers Pvt., said, “Zoom has identified Plastic Fuel Tank, known for its safety and environment friendly features, as an entry product into the Auto Ancillary business and has sought to tie up with YAPP, as YAPP is committed to excellence in technology and manufacturing practices. In the coming years, we hope to expand our business to bring in the latest Plastic Fuel Systems to the International and Indian OEM’s. Zoom values the partnership with YAPP and are proud to be associated with its Shareholders SDIC and SAIC.”
Worldwide, plastic is rapidly replacing steel, as a preferred material for Passenger car Fuel Systems, but the Indian Automotive Industry has been slow to adopt this trend.
With the advent of new generation vehicles and global car manufacturers setting up facilities in India, adoption of plastic fuel tanks has taken place in some models of cars manufactured by Ford, Honda and GM. This being so, plastic has scored over steel in areas of safety, design flexibility and ability to meet emission norms.
YAPP was founded in December 1988, jointly invested by State Development & Investment Corporation (SDIC) and Shanghai Automotive Industry Co.Ltd.(SAIC) , it is a group enterprise, specializing in developing , manufacturing and selling auto plastic fuel tank (PFT). With headquarters and R&D center in Yangzhou, YAPP covers 10 plants located respectively in Yangzhou, Shanghai, Changchun, Chongqing, Tianjin,Yantai, Yancheng, Shenyang etc. and one subsidiary with 50 per cent shares, Wuhan YAPP Auto Plastic Co.Ltd.
YAPP is a national key enterprise with high and new technology as well as “A” grade supplier for VW, GM and Ford etc. renowned enterprises. YAPP is the biggest base for developing and manufacturing PFT in China, the only domestic enterprise of exporting PFTs and technology as well as one of Top 100 Comprehensive Competitive Enterprises in the Industry of Auto Parts. It occupies over 50 per cent market share of domestic sedan PFTs.
The Flagship Company, Zoom Developers started business in 1991 and its quest for growth has been driven by the combined creativity, passion and dynamism of its stakeholders, who have established a reputation for developing challenging and complex projects both at home and abroad. Headquartered in Mumbai, it has regional presence in major metros and its global operations span USA, UK, Singapore, UAE, China and Zimbabwe.
In the Automotive component business, Zoom through its 100 per cent subsidiary company Zoom Automobile Ancillaries Pvt. Ltd., is already setting up a Plastic Fuel Tank unit in Pune, to cater to the western cluster. (ANI)
Tags: automotive parts company, chennai, china, developers, envisaged, generation vehicles, India, joint venture, oem, partnership, plastic fuel tank, plastic fuel tanks, preferred material, president, pvt, saic, sdic, shareholders, sun yan, zoom