AAPICO Hitech Plc (AAPICO), one of Thailand’s leading auto parts manufacturers, has signed a Memorandum of Understanding (MOU) with Hyojin Autotech Co.,Ltd (Hyojin), Korea and Triumphant Project Management Sdn. Bhd. (TPMSB), Malaysia. Intends to invest in a private limited company to be formed under the law of Thailand to be called “AAPICO HYOJIN AUTOTECH CO., LTD.”. AAPICO capacities can do full body in white assembly lines, jigs and robotic integration.
Hyojin is among top five company with 40 years experience specializing in Assembly Jigs, Cubing and Checking Fixture Design, Manufacturing & Project Implementation in Korea.
TPMSB has 30 years BIW Integration Engineering & Project Management Resource Experience in Malaysia and Indonesia Markets.
The establishment of this Automotive Assembly Jigs Design and Manufacturing in Thailand is to provide competitive advantage to AAPICO for its current and new products. Notwithstanding, the new company will expand into EEC to focus on R&D development on robotic implementation in line with Thailand 4.0, and enhance assembly Jigs quality, cost and delivery to South East Asian OEM. The jigs manufacturing capacity is capable to reach 500 jigs/year in combination of main jigs and sub-assembly jigs.
The investment capital plan of THB 30 million by AAPICO, Hyojin, and TPMSB will hold 55%, 30%, and 15% equity respectively. The initial operation started from October 1, 2019
with AAPICO providing land, factory building and machinery for effective start-up with 14 designers/engineers and 45 technicians. The engineers and technicians will be equipped with new skills to meet customers demand for speed, flexibility and cost competitiveness. Hyojin will provide technology transfer on jigs design and manufacturing know-how and operations standards. TPMSB will provide BIW Integration Engineering expertise & Project Management resource experience.
This project will provide a significant expansion milestone for AAPICO to enter into the ASEAN and Global markets Assembly Jigs business, and we are confident that this is only the first step to greater things in the future among our companies”, commented Mr. Yeap Swee Chuan, President and CEO of AAPICO.
For more information about AAPICO Hitech
AAPICO Hitech PLC was established in 1996 and was listed on the Stock Exchange of Thailand in 2002. The Company’s main businesses initially were to design, produce, and install car assembly jigs and stamping dies, and to manufacture OEM automotive parts, including floor parts, cross members, pillars, brackets, clips, and fuel tanks for leading automobile assemblers in Thailand. The Company has later progressed to produce plastic parts, forging and machining parts, and chassis frame components.