Atlas, DID to set up JV firm

KARACHI: Atlas Autos (Private) Limited and DAIDO Kogyo Co Limited (DID) are set to launch a joint venture company next month to manufacture motorcycle chains in Pakistan, a statement issued by the Consulate General of Japan in Karachi said on Wednesday.

“The venture marks a significant milestone in the collaboration between the two companies, as it strengthens an already excellent cooperation between the two partners,” the Consulate said.

The joint venture, to be owned 60 percent by Atlas Autos and the rest by DAIDO Kogyo and DAIDO Sittipol, will provide consistent quality, cost and delivery services to motorcycle manufactures and the after-market suppliers in Pakistan by starting an integrated production of motorcycle chains in Pakistan. The combined company name will be Atlas DID (Private) Ltd.

The joint venture will be established with the capital of Rs1.2 billion or $8 million (940 million JPY).