Minth Group set up a joint venture company for plastic products

Hong Kong-China auto parts maker Minth Group Co., Ltd. is cooperating with Japanese plastics and rubber products manufacturer Donghai Xingye Co., Ltd. to jointly invest US$5 million (31.5 million yuan) to form a joint venture company.

The joint venture established at a ratio of 50-50 is called Wuhan Donghai Minshi Auto Parts Co., Ltd. The headquarters will be located in Wuhan, central China.

Minth Group is headquartered in Ningbo, Zhejiang Province. Minth Group stated that the partnership will help ensure sufficient supply of parts and services it purchases from the East China Sea. In the first eight months of 2011, the value of these parts and services reached 70.8 million yuan.

Donghae Kogyo Co., Ltd. is headquartered in Tokyo, Japan and is owned by Asahi Glass Co., Ltd. of Japan. The company produces plastics, rubbers, polyurethanes and thermosets.