source：Yahoo Finance-10
New partnership to develop advanced exterior lighting solutions
DETROIT, March 17, 2020 /PRNewswire/ -- Eypex Corporation and Proper Group International expanded their decades-long relationship by announcing today the signing of a binding letter of intent to create a strategic alliance to jointly design, develop, market and manufacture automotive lighting components. This partnership provides a solution for cost-effective operations through a cross-sharing agreement allowing the strengths of each company to outperform a singular centric organization. Their joint focus will be the automotive market for small lamps, which is rapidly growing based on autonomous driving, personal customization and accent lighting.
'With this agreement, each company can maintain their individual identities while leveraging each other's capabilities in our jointly targeted markets and applications,' said Geoff O'Brien, CEO of Proper Group International. 'Taking a chapter from the Nissan/Renault alliance, we're establishing cross-company teams to manage key areas of engineering, product design, sales and marketing, program management and purchasing. These teams will provide best practices for use by each organization while designing and delivering advanced lighting solutions to the automotive market.'
'Our customers are looking for new supply chain solutions to provide cutting-edge technologies and the global footprint of the large tier 1 supplier, packaged in a smaller more agile and responsive organization,' said Clarence Martin, President of Eypex. 'This alliance allows us the flexibility to manufacture in North America and Asia for each respective market, with product development and testing resources in Suzhou and Detroit,' said Robert Granata, CEO of Eypex. 'Our strategy to efficiently service and supply our customers regionally elevates us above many of the independent, offshore small lamp suppliers who have struggled with recent supply chain and trade issues.'