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Standard Motor Products, Inc. announced it has entered into a 50/50 joint venture agreement with Techstrong Holdings Limited to form Techstrong Electronics (Thailand) Company Limited, an automotive sensor manufacturing company.
Through this partnership, SMP will acquire a 50% stake in an established and strategic supplier, immediately expanding its manufacturing capabilities across key sensor categories. This joint venture increases SMP's control over development, quality, and delivery, and provides additional resources to further enhance its sensor offering. This approach supports SMP's long-standing commitment to being a basic manufacturer in core categories to delivery industry-leading coverage and quality to its distribution partners.
Located in Thailand, SMP Techstrong also supports the Company's strategic objective to further diversify and strengthen its global supply chain with a highly capable manufacturing facility on which to build. The investment reduces reliance on China while maintaining a presence in a competitive manufacturing region, helping to mitigate risk and improve supply chain resilience.
"This joint venture represents an important step forward in our commitment to our customers," said Hap Acee, Vice President of Asian Operations for SMP. "By investing in manufacturing and deepening our partnership with Techstrong, we are strengthening our ability to deliver the quality, coverage and value that our customers expect from SMP."
