Globaltec Formation Bhd, through its wholly-owned subsidiary AutoV Corp Sdn Bhd, entered the commercial vehicle segment by partnering with Blue Breeze Sdn Bhd to establish a joint venture focused on leaf spring assembly and sales.
Globaltec Eyes Commercial Vehicle Components
The new entity, named GFB Hongli Sdn Bhd, will operate as a 50:50 joint venture between AutoV and Blue Breeze, with technical support from China-based Jiangxi Hongli Auto Parts Co Ltd, a specialist in heavy vehicle components.
Leaf springs are essential elements in the suspension systems of heavy commercial vehicles, and their assembly marks Globaltec’s strategic expansion into the commercial vehicle component sector.
“This joint venture represents a significant diversification for our automotive division,” Globaltec said in a statement. “It not only positions us in the heavy-duty vehicle component space but also opens up opportunities in the export market.”
