Pakistan Atlas Hitec (Private) Limited held its plant inauguration ceremony on Thursday marking the official start of its commercial production.
The new company is a Joint Venture (JV) between Atlas Group and Denso Corporation, Japan, in which Atlas Group and Denso Corporation hold 74 percent and 26 percent ownership, respectively. Both Atlas and DENSO are renowned names in the manufacturing and marketing of auto products.
Akira Ouchi, Consul General of Japan inaugurated the plant. Haruya Maruyama and Michio Adachi – Executive Managing Directors from Denso Corporation and Saquib H. Shirazi – CEO and Hisao Kobayashi – Director from Atlas Honda attended the inauguration ceremony.
Atlas Hitec (Private) Limited was incorporated on September 13, 2012.
With an initial combined equity investment of $ 7.2 million, the company will produce motor cycle products that meet the market need in Pakistan by utilising Atlas Group’s abundant business expertise in the country and DENSO’s technologies for motorcycle parts. The advanced manufacturing plant will utilise the latest technology available in the production process and, at the same time, meet the highest environmental requirements for producing Honda motorcycles. Initially, the company will employ up to 300 employees.