New Delhi [India], Feb 10 (ANI): Powerdown Australia Pvt. Ltd. picked one third equity in the Indo-Italian joint venture Sabo Hema Automotive India, a manufacturer of shock absorbers and suspension components, thus becoming a third equal partner.
The move will not only help Powerdown to further manufacture its product range in India, but will also supply to demands encountered all over the world.
"Since the establishment of a three-year long working relationship between Sabo Hema and Powerdown, we collectively have developed and supplied a range of products that have been manufactured to Powerdown's specifications. This close collaboration on existing and future projects will establish a platform that would make a successful long-term relationship," said S N Ahmed, CEO, Sabo Hema Automotive.
Meanwhile, Sabo Hema Automotive is a joint venture company of Roberto Nuti Spa - Italy and the Hema Group of Industries.
"Powerdown supports the venture with over 33 years of experience and technical knowledge in the shock absorber industry, an established OEM and aftermarket distribution network, a foot print into new markets and an increasing overseas clientele base. Currently, Powerdown are OE suppliers to a number of truck and trailer manufacturers in Australia that could lead to further opportunities in Australia and abroad," said Bruce Gatgens - chairman Powerdown Australia.
Powerdown started its association with Sabo-Hema as a customer from the year 2014. Over the years with joint efforts in Engineering / R&D Programs, they have designed and developed quality shock absorbers which can survive in the extreme conditions of the Australian "Outback" and many other overseas markets, which experience rugged, long distance obstacles and similar hardships.
Through this partnership, Powerdown gets a consistent supply for their product range, manage and control standards and quality for their products and provide backward integration by entering business into manufacturing for an extended range of products, while Sabo Hema gets extended and environmentally diversified product ranges and access to already developed market in the Asia-Pacific market. (ANI)