Malaysian startup Multi-Code Electronics Industries, a subsidiary of MCE Holdings Berhad, on Tuesday, January 3, signed a memorandum of understanding (MoU) with Gurugram-based Sandhar Technologies for the production, marketing and supply of its existing range of products for automobile manufacturers located in India.
Sandhar Technologies commenced operations in 1987 as a supplier to Hero MotoCorp (formerly Hero Honda Motors Limited) for sheet metal components. The company later expanded into manufacturing mirror plates, zinc die casting, plastic injection moulding and body coloured paint shops.
Earlier, Sandhar Technologies had entered into technical collaborations with South Korea's JEM Techno for manufacturing relays and with Taiwan's Lyssen Enterprises for manufacturing instrument clusters, gauges and senders.
The MoU, which will initially remain effective for one year and will then automatically be extended for subsequent periods of one year each, would also pave the way for the consultation and exchange of information and technology between the companies as MCE Holdings expects to further penetrate the India market. The agreement -- if both the parties consider -- would be further extended to other electronic and mechatronic parts and systems.
"This MOU will enable MCE to further penetrate the India market, consistent with its strategy to increase its presence in the Asia region. MCE and Sandhar will be able to rationalise the cost effectiveness in the manufacture and supply of products and improve on overall competitiveness for the India market," MCE Holdings said, the Star Online reported.
Multi-Code Electronics offers parking sensors, functional switches, ignition key sets, and other anti-theft alarming devices.