Toronto-based Tier One auto parts supplier ABC Group Inc. has signed a global alliance agreement with Japan's Inoac Corporation, designed to target global customer programs and strengthen global capabilities by leveraging complementary manufacturing footprints, technologies and customer relationships.
In addition, the companies also plan to engage in joint research and development projects.
The agreement comes six months after the two companies announced a joint venture manufacturing plant in Ningbo, China.
"This agreement enhances the relationship between ABC Group and Inoac, and reflects the growing industry trends towards increasing synergies and efficiencies through supplier cooperation," said Robert Kunihiro, co-managing director of ABC Group.
Founded in 1974, ABC Group employs over 4,000 workers and has 25 manufacturing facilities in Canada, the United States, Mexico, Brazil, Spain, Germany, China and a sales centre in Japan.
Inoac is a diversified manufacturing company with over 100 facilities operating in 20 countries. The company makes parts for the automotive, information and telecommunications, industrial materials and housing industries.