25.09.2009

     UzChasys, an Uzbek-Korean joint venture on production of headlights and lights, officially opened in Namangan region.
Representatives of businesses, relevant ministries, enterprises and organizations, professionals, foreign partners, members of the media attended the opening ceremony.
     The venture produced the first party of products for headlights and lights for Matiz and Nexia car models. The products meet all international standards.
     The charter capital of the joint venture is US$5.95 million, where Chasys (South Korea) holds 30% and Uzavtoprom possesses 70% in the venture.
     The project capacity of the venture is 250,000 headlights and lights a year. South Korean AMS Co Ltd, subsidiary of Chasys Co. Ltd, supplied equipment to the venture.
     The project was financed due to charter capital of the venture and the loan of Asaka Bank for US$15.2 million.
     This company, which has no analogues in Central Asia, is equipped with advanced production lines for high-precision polymer casting, processing, ultraviolet light, working with aluminum in a vacuum. In addition, it also installed modern equipment to check the quality of the finished product, test leak lights and lamps, to conduct a photometric test.
     UzChasys General Director Ulugbek Karimov said the venture will produce eighteen types of lighting system for vehicles, produced at GM Uzbekistan. The venture will produce goods for US$40 million annually.
     Korean Chasys is planning to produce chassis and jacks. On the other enterprises in the region it is planned to produce forged components, filters and safety shields.