Joint Venture Agreement (Atlas Group and GCI China) in Pakistan

Notice Conclusion of Joint Venture Agreement in Pakistan

JULY 10, 2019

We proudly announce that Atlas Group and GCI, China have agreed to establish a Joint Venture Company in Pakistan for the production of parts for electric components of two-wheeler vehicles.

In September 2018, Atlas Hitec (Private) Limited entered into a Technical Collaboration Agreement with Chongqing Gongcheng Investment Company Limited (GCI) and started to manufacture electric components for higher CC Honda motorcycles in Pakistan.

Both Groups have now decided to deepen the relationship by establishing a Joint Venture Company that provides consistent quality, cost and delivery services to motorcycle part manufacturers by starting production of parts for electrical components for motorcycles in Pakistan.

Both Atlas Group and GCI are renowned names in the manufacturing and marketing of auto products. Atlas Group is best known for manufacturing and marketing of motorcycles and cars in collaboration with Honda Motor Company, Japan. It also manufactures various hi-tech components in-house in technical collaboration with leading Japanese and Chinese components manufacturers including GCI. GCI is a leading supplier of advanced automotive technology, systems and components for the world’s major auto-manufacturers.

The venture marks a significant milestone in the collaboration between two Companies as it strengthens an already excellent co-operation between the two partners.

Company Name: Atlas GCI (Private) Ltd. (proposed)
Location: Atlas Industrial Park, Landhi – Karachi
Business scope: Sales and manufacture of Circuit Assembly for Electrical Components
Capital: Rs. 300 million(8 million USD
Mass Pro.: March 2020(Plan)
Capital contribution ratio: Atlas Hitec (Private) Ltd.: 40%
Chongqing Gongcheng Investment Company Ltd.: 40%
Atlas Autos (Private) Ltd.: 20%