Venture and Expert Form Venture To Supply Complete Front-End Modules For Autos.(Brief Article)

Automotive suppliers Venture Industries (Fraser, MI) and Expert Corp. SL (Barcelona, Spain) said they have formed Venture-Expert Automotive Systems (VEAS), a joint venture company developed to supply front-end modules to the global automotive market. The announcement was made by Mike Torakis, CEO of Peguform GmbH & Co KG (a wholly owned Venture subsidiary with 18 plants worldwide), and Vicente Bernad, CEO of Expert, during a signing ceremony in Barcelona.

The new company, with headquarters in Barcelona and plants in Pamplona (Spain), Brussels (Belgium) and Mlada Boleslav (Czech Republic), is already producing modules for the European market. The two executives explained that the joint venture has been established for the worldwide development, manufacture, assembly, distribution and marketing of front-end modules. As a rule, these comprise the bumper, fan and radiator system, lighting and front-end carrier structure.

"VEAS is thus positioned at the forefront of the trend among automakers toward purchasing complete modules from suppliers for cost and quality benefits," observed Larry Winget, Chairman and CEO of Venture Industries. "It's also another confirmation of Venture's commitment to a truly global organization and strategy."

Though new, VEAS is already the leading front-end module producer in Europe, holding 39 percent of this growing market, the company said. The company also said it is optimally positioned for expansion to other countries thanks to the global reach of its two founding firms.

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