Petronas to make car engine<\/p>\n
KUALA LUMPUR (DPA): Malaysia's state oil firm Petronas and
\nnational carmaker Proton have agreed to form a joint venture
\ncompany to develop car engines and transmissions and conduct
\nresearch, company officials confirmed yesterday.<\/p>\n
Proton, in a notice to the Kuala Lumpur Stock Exchange late
\nTuesday, said shareholders of both companies agreed on July 9 to
\nform the joint venture, to be known as Advanced Engine Research
\nSdn. Berhad.<\/p>\n
The proposed move will be a \"strategic alliance\" to boost
\nMalaysia's technical know-how in research and design for the
\nmanufacture of engines, transmissions, additives, fuel,
\nlubricants and engineering materials, Proton said.<\/p>\n
Proton, which was set up in 1985 to produce the first national
\ncar in a tie-up with Japan's Mitsubishi Motors, still imports its
\nengine and transmission parts from Japan.<\/p>\n
The government has urged Proton to acquire the technology to
\ndesign and build car engines and transmission parts to cut down
\non expensive imports.<\/p>",
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