12.12.2005

CJSC VAZinterService (SOK Group) Contracted Technical Cooperation and Assistance Agreement with Korean Company Halla Climate Control Corp

Russian auto components manufacturer, VIS (CJSC VAZinterService, SOK Group subsidiary) announced on Dec. 12 that it had contracted “Technical Cooperation and Assistance Agreement” with the biggest car air conditioner & heating system manufacturer in Korea, HCC (Halla Climate Control Corp.) in order to supply the climate control and engine cooling system for Spectra to be assembled in Russia.

VIS, currently manufacturing car heating systems, brake systems, units for transmission and suspension, will supply Spectra climate control and engine cooling system from next June to Izhavto, which is assembling Spectra under the assistance from another big Korean car company, Kia Motors Corporation.

It is expected that VIS annual sales from SPECTRA program amounts over $16.0 Mill. by providing Izhauto with annual 40,000 units of climate control and engine cooling system at peak under the close cooperation with HCC technically.

HCC, founded in 1986 Korean company has been specialized in manufacturing car climate control systems and Front End Modules and it has 3 plants and R&D center in Korea and 10 affiliates overseas and providing its products for Big 3(GM, FORD, DCX) in the States, Volkswagen, Mazda and Volvo as well as Hyundai Motor and Kia Motor Company in Korea.