Haldex has signed a license and manufacturing agreement with a subsidiary of ASIMCO Technologies Ltd, based in Beijing, China, to manufacture a new Haldex-designed twin-cylinder compressor. Haldex will market and service its new compressor in markets outside China. Initial deliveries of the compressor from Haldex to a major global customer will begin in late 2005.
The arrangement allows the partners to combine the strengths of ASIMCO's position as a manufacturer of vehicle compressors in China with the capabilities of Haldex in product development, sales, and aftermarket service.