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EP Manufacturing clinches car seats supply contract from Proton

EP Manufacturing clinches car seats supply contract from Proton

11 Oct 2022

EP Manufacturing Bhd has bagged a contract from Perusahaan Otomobil Nasional Sdn Bhd (Proton) to supply car seats for the latter’s future car models.

In a bourse filing on Tuesday (Oct 11), EP Manufacturing said its wholly owned subsidiary EP Polymers (M) Sdn Bhd had on Oct 10 executed and accepted a letter of acceptance (LOA) awarded by Proton for the provision of car seats.

EP Polymers’ principal activities are manufacturing, fabricating, producing, buying, selling and dealing in engineering plastic components and parts, partly and wholly made of, or constructed with plastics.

Among responsibilities and obligations under the LOA, should EP Polymers be appointed either as a first or second tier vendor, include being directly responsible and liable to Proton for the developed parts, besides ensuring timely delivery of the assembled products to Proton.

Proton is a subsidiary of DRB-Hicom Bhd and Zhejiang Geely Holding Group Ltd. DRB-Hicom’s share price closed five sen or 3.79% down to RM1.27 on Tuesday, which translates to a market capitalisation of RM2.46 billion.

Source: The Edge Markets