SaarGummi Group, a leading supplier of car body seals and moulds for the automotive industry, is considering a joint venture with AIA Corporation, a South Korean company engaged in processing and manufacturing rubber and plastic products for the automobile sector.
The companies have entered a technical deal, signed at the end of May, in order to link SaarGummi’scapabilities in sealing systems with AIA’s in the manufacture of anti-vibration systems, bumpers and weatherstrips.
According to a statement from SaarGummi, AIA has significant existing business with Hyundai Motor Co. and Kia Motors Corp., including delivering 12% of the weatherstrips for both South Korean car makers.
David Lettin, managing director of SaarGummi Technologies International GmbH said they are sure that the technical agreement with AIA will help the group establish the SaarGummi Automotive innovations on the increasing South Korean automotive market. The group is also considering forming a joint venture with AIA in the coming months, he added. No further details about the possible joint venture were provided.