Tashkent, Uzbekistan, Feb. 18
By Demir Azizov - Trend:
UzSungwoo, an Uzbek-South Korean joint venture producing parts for new car models manufactured by the GM Uzbekistan, has started exporting its products to Brazil.
Uzbekistan's joint stock company, Uzavtosanoat, said Feb. 18 in a message that an agreement on the exports of UzSungwoo's products was signed in August 2014 with the Brazilian partner - General Motors do Brasilia LTDA.
The first export of automobile components produced by the UzSungwoo was carried out in late December 2014.
Uzavtosanoat did not specify the agreed exports volumes.
UzSungwoo was created in April 2011, on a parity basis by the Uzavtosanoat and the South Korean Sungwoo Hitech Ltd. Co with an authorized capital of $14 million. Its design capacity stands at 125,000 sets of parts annually.
Uzavtosanoat, uniting the automotive industry enterprises of Uzbekistan, was established in 2004.
The Uzbek state owns 100 percent of the shares in the authorized capital of Uzavtosanoat.
Edited by CN