Kossan Rubber Expands to Iran via Rubber Bearing JV

Kossan Rubber Industries Bhd is expanding its reach to Iran via a joint venture to manufacture rubber bearings for use in construction of buildings.

In an announcement to Bursa Malaysia yesterday, it said its subsidiary Doshin Rubber Products (M) Sdn Bhd had signed a memorandum of understanding (MoU) with Amona International Ventures Sdn Bhd and Kohrang Industrial Group to facilitate its venture in Iran.

Under the MoU, the parties will undertake a feasibility study to set up a joint-venture company to design and construct testing facilities, manufacturing and testing of seismic rubber bearings to be used in construction of buildings.

The Malaysian Rubber Board will offer assistance by supplying high damping rubber compound for the production of the seismic rubber bearings. Amona is a Malaysian company but involved in property development and construction ventures in Iran while Kohrang is based in Iran and produces and supplies marine rubber parts to the industries there.

Kossan said funding would be via internal funds and borrowings with the actual cost to be determined at a later stage.

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