AAPICO Hitech Public : Notification of the establishment of Joint Venture Company.
August 10, 2022 at 01:44 am EDT
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บริษัท อาปิ โก ไฮเทค จ ากัด(มหาชน)
AAPICO HITECH PUBLIC COMPANY LIMITED
Ref No: AH 01082022
August 10th, 2022
Subject:
Notification of the establishment of Joint Venture Company.
To:
The President
The Stock Exchange of Thailand
Aapico Hitech Public Company Limited ("the Company") hereby discloses the establishment of joint venture company with Purem International GmbH ("Purem") which is a worldwide leading developer, manufacturer, and supplier of automotive systems, with products and process development capabilities and manufacturing plants around the world. Purem is mainly engaged in supplying exhaust after-treatment system and components for petrol and diesel engines for passenger cars and commercial vehicles and vehicle climate control systems to automobile manufacturers worldwide. According to, the resolution of the Board of Directors' meeting No. 114/2022, held on Monday, February 28th, 2022, at 11:30 hrs. The meeting has resolved to approve the establishment of joint venture company with the details as follows:
Company Name:
Purem Aapico Company Limited
Business Type:
Automotive Parts Manufacturing Business
Registered Capital /
Limited to THB 220,000,000
Paid-up Capital:
(Comprising of ordinary share limited to 22,000,000 shares at Par Value of 10 THB/share)
Shareholding Structure:
1) Purem International GmbH (51%)
2) AAPICO Hitech PCL. (49%)
Investment Value:
Limited to THB 107,800,000 (proportion of the Company's investment)
Investment Objective:
To strengthen and boost potential growth in Automotive parts
manufacturing business for global car manufacturers in Thailand.
Location:
Thailand
Source of Fund:
Working Capital
The abovementioned acquisition of asset is not considered as a connected transaction and are not considered as material transaction. Comparison of Consideration Paid Criteria and the size of acquisition or disposition transaction during 6 months prior to date is less than 15% threshold, which is not classified as a transaction under the Notification of the Capital Market Supervisory Board Announcement Tor Jor. 20/2551 regarding the regulation on significant transactions subjecting to be an acquisition or disposition of assets.
AAPICO Hitech pcl published this content on 10 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2022 05:43:05 UTC.
AAPICO Hitech Public Company Limited is a Thailand-based company. The Company is principally engaged in the manufacture and distribution of automobile parts, dies, and jigs. The Companyâs segments include the manufacture of auto parts segment, sales of automobiles and provision of automobile repair services segment, and other segments that represent the manufacture and sales of car navigation systems and services relating to technology. The Company is focused on manufacturing OEM automotive parts, including floor parts, cross members, pillars, brackets, clips, and fuel tanks, for leading automobile assemblers in Thailand. The Company is focused on the OEM auto parts manufacturing business, the car dealership business, and the Internet of Things (IoT) connectivity and mobility business. Its subsidiaries include AAPICO Amata Company Limited, New Era Sales Company Limited, Able Motors Company Limited, AAPICO Hitech Parts Company Limited, and AAPICO Hitech Tooling Company Limited.
AAPICO HITECH 
