TORONTO (Oct. 12, 4:15 p.m. ET) — Canadian auto supplier ABC Group Inc. has strengthened its ties with Japanese auto supplier Inoac Corp. through a global alliance agreement that will allow the companies to join forces on future development and existing manufacturing capabilities.
The agreement, announced in an Oct. 12 news release, comes in addition to a joint venture plant for Inoac and ABC in Ningbo, China, which was announced in April.
ABC is a Toronto-based molder, mold builder and compounder with both injection molding and blow molding operations. It has 25 manufacturing facilities, the bulk of them in North America, with additional production in Germany, Spain, Brazil and China. It has been creating alliances with other international companies to access a larger global footprint.
“ABC Group feels it is imperative to continue strengthening our global presence. As our customers continue to globalize we must be able to meet their requirements,” said Helga Schmidt, Chairman of ABC Group.
Inoac, based in Nagoya, Japan, has some production in North America with polyurethane foam and interior trim, but has more of an emphasis in production in Asia in Japan, China, Thailand, South Korea and Taiwan.
The two companies previously cooperated in forming Ningbo Inoac Huaxiang Automobile Products Co. Ltd. The new agreement will allow each company to leverage each other's complementary manufacturing and work together on research and development projects.