RUEIL-MALMAISON, France--(BUSINESS WIRE)--Regulatory News:
Today, Groupe PSA (Paris:UG) and Naza Corporation Holdings announced the signing of a share sale agreement and a joint venture agreement, officially establishing shared operation of the Naza Automotive Manufacturing (NAM) plant in Gurun, Kedah, as the first manufacturing hub in ASEAN for Groupe PSA. In attendance to witness, the event was the Honourable Prime Minister of Malaysia, YAB Dato Sri Mohd Najib Abdul Razak. Groupe PSA, as a global automotive player and the second largest carmaker in Europe, is confident and committed to the Malaysian and other ASEAN markets, holding majority stake in the business operations of Naza Automotive Manufacturing (NAM). The Naza Group will have sole responsibility for the distribution of Peugeot, Citroën and DS Automobiles in the domestic market and, with Groupe PSA, will explore distribution prospects in other ASEAN markets to address the potential 680 million customers in the region, where the automotive equipment rate is growing.
With this agreement in effect, Groupe PSA and Naza will jointly produce Groupe PSA branded cars for Malaysia and other ASEAN markets. Further opportunities will also be explored beyond ASEAN, with a potential to contribute significantly to Malaysia’s economy.
This strategic partnership will benefit from the strong and qualitative supplier network implemented in the region. The Naza Automotive Manufacturing (NAM) plant has been operational since 2004, has a workforce of close to 450 people and boasts a 50,000-vehicle production capacity, operating in line with the highest international quality standards.
Groupe PSA and Naza Corporation Holdings are now strengthening their partnership, established in 2008, to develop a sustainable and profitable business in Malaysia and in the rest of the ASEAN region. Groupe PSA’s investment in the Naza Automotive Manufacturing (NAM) plant will see the implementation of its EMP2 modular platform dedicated to C and D segments – taking the partnership and Naza’s commitment to another level.
Carlos Tavares, Chairman of the Managing Board of Groupe PSA, commented: “The creation of the ASEAN hub in Gurun, Kedah is a significant leap forward for Groupe PSA which will lead to the development of a profitable business in the region as part of our Push to Pass strategic plan. We are pleased to partner with Naza Corporation Holdings and continue leveraging our historical relationship.”
“We are grateful for Groupe PSA’s support and confidence in Naza Corporation Holdings as we take our longstanding partnership to greater heights. With this collaboration, there is enormous potential for Kedah to be the leading automotive manufacturing hub in Malaysia,” said SM Nasarudin SM Nasimuddin, Group Executive Chairman, Naza Corporation Holdings.
Together, both Groupe PSA and the Naza Group are poised to achieve a stronger footing in the automotive industry within the ASEAN region.
About Naza Group of Companies:
The Naza Group of Companies began operations in 1975 as a motor trading company by the late Tan Sri SM Nasimuddin SM Amin. He later expanded the companies in the Group to include automotive franchises, property development, engineering & construction, manufacturing, asset investment, telecommunications and others.
The Group captured its first automotive franchise in the late 90s from South Korean carmaker, Kia Motors Corporation, through its subsidiary, Naza Kia Malaysia Sdn Bhd, which later in 2001 became a full-fledged auto assembler with the introduction of the locally-assembled Kia Spectra.
Today, the Naza Group is the exclusive importer and distributor for several international four wheels and two wheels marques including Ferrari, Maserati, Koenigsegg, Mercedes-Benz, Brabus, Chevrolet, Peugeot, Citroen, Ducatti, Aprilia, Indian Motorcycle, Piaggio, Gilera and Vespa among other brands in Malaysia.
With automotive as its core business, Naza Group of Companies also assembles and manufactures Naza’s own bikes for the local and regional markets. Nasim Sdn Bhd, a subsidiary of the group also achieved its status as the ASEAN region manufacturing hub for the Peugeot brand since 2010. The group also established Malaysia’s ‘Largest Supercar Showroom’, certified by the Malaysia Book of Records; the Naza Auto Mall as the country’s premier ‘one-stop-centre’ lifestyle automall displaying a variety of cars and motorbikes.
On property development, the Naza Group acquired TTDI Development Sdn Bhd from Danaharta in 2004. Today, Naza TTDI is the developer for several high-impact property projects namely KL Metropolis and Platinum Park in Kuala Lumpur.
Complementing Naza TTDI, Naza Engineering & Construction Sdn Bhd is the property arm of the Naza Group, strengthening the Group’s position as an integrated developer in Malaysia. Specialising in civil engineering and infrastructure, Naza EC is a registered Grade 7 construction company with the Construction Industry Development Board (CIDB).
In terms of asset investment, the Naza Group has invested in properties both locally and internationally such as the 50-storey Naza Tower in Platinum Park, Menara Naza, the Naza World Automall and Cedar Creek Apartments in North Arlington, Dallas-Fort Worth, Texas.
The Naza Group also set up Naza Communications Sdn Bhd, a fully owned subsidiary which actively engages in the business of integrated telecommunications infrastructure services.
Apart from the main businesses, the Naza Group’s diverse portfolio also includes F&B, agriculture, education, finance and insurance and transportation sectors.
For more information on the Naza Group of Companies, please visit www.naza.com.my.
About Groupe PSA
The Groupe PSA designs unique automotive experiences and delivers mobility solutions to meet all client expectations. The Group has five car brands, Peugeot, Citroën, DS, Opel and Vauxhall, as well as a wide array of mobility and smart services under its Free2Move brand, aiming to become a great carmaker and the preferred mobility provider. It is an early innovator in the field of autonomous and connected cars. It is also involved in financing activities through Banque PSA Finance and in automotive equipment via Faurecia. Find out more at groupe-psa.com/en.