Germany enters Iran’s auto parts market
Germany enters Iran’s auto parts market[stm_post_details]
TEHRAN – Germany’s Continental Automotive Group and Iranian auto parts manufacturer Crouse Company have signed an agreement to establish a joint venture in Iran.
According to Tasnim news agency, Continental, which is the world’s third biggest automotive replacement parts manufacturer, and Crouse founded a new company called “CCAC” after the agreement.
The new company’s initial capital is estimated at over €18 million of which the Iranian side owns 55 percent and the other 45 percent belongs to Continental.