21/01/2009 - 22:00

ATG drives growth plan

21/01/2009 - 22:00

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AUTOMOTIVE Technology Group is pushing ahead with an aggressive global growth strategy despite the economic downturn and a struggling automotive industry.

AUTOMOTIVE Technology Group is pushing ahead with an aggressive global growth strategy despite the economic downturn and a struggling automotive industry.

The Malaga-based company has signed an agreement with Huachuang Zhenxin Automobile Technology Development Co - China's largest automotive distribution group - to exclusively distribute ATG's patented Sprintex Supercharger products in China.

As part of the three-year deal, Huachuang will buy 5,000 ATG low-emissions, high fuel efficiency supercharger kits during the first 24 months and a minimum of 5,000 more in the final 12 months of the agreement.

The agreement follows a deal ATG made late last year with United Arab Emirates motor vehicle distribution group, Al-Futtaim Motors Company LLC, to evaluate ATG's superchargers with a view to secure exclusive distribution rights in the UAE.

ATG executive director Steven Apedaile told WA Business News ATG was also targeting major markets such as India.

He said the China deal would reinforce the ASX-listed company's vision to be a leading developer and manufacturer of innovative green automotive technologies to the world market.

"China is a massive and growing automotive market and we see a major opportunity for the Sprintex Supercharger product as a standard component in the manufacture of new vehicles, as well as in the after sales market," Mr Apedaile said.

Huachuang general manager Joe Li said the company was a domestic leader in the production and sales of turbochargers in China, where it had a 60 per cent market share of the turbocharger auto modification market.

"Our aim is to become number one in the supercharger market in China," he said.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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