ABC Group announces JV with Ningbo Inoac Huaxiang Automobile Products Co., Ltd.

ABC Group, founded in 1974 from a single manufacturing facility in Canada, has grown to become a global manufacturing enterprise, employing 4,000 staff at 24 facilities worldwide. As the automotive industry increasingly moves to global automotive platforms for design, engineering and production, automotive parts suppliers are adapting to meet these requirements. This joint venture will strengthen market share for both ABC Group and IHX in the Chinese automotive market.

"ABC Group's expanded presence in China is an important part of our global growth plan," said Helga Schmidt, Chairman of ABC Group. "Global platforms have become the standard for the automotive industry," added Mark Poynton, Co-Managing Director "and ABC Group will continue to expand its capacity to ensure our customers global platform requirements are met."

"Since 2002, IHX has been committed to supporting the growing automobile industry in China. Our joint venture agreement with ABC Group will help to broaden both our product offering and our customer base," said Ken Miwa, Chairman of IHX.

The customer base at the AIH joint venture facility will include VW, Toyota, Nissan and Daimler, with short-term plans to introduce North American OEMs. The joint venture facility will manufacture: interior and exterior components as well as engine support products. In addition, ABC Group will also introduce its latest blow and injection moulding and system-based manufacturing expertise into AIH.