By Park Jin-hai
Hyundai Wia, an auto parts company under Hyundai Motor group, has clinched a deal to supply $20 million worth of machine tools to a Chinese company.
Under a memorandum of understanding signed with China's Tri-Ring Group, Hyundai Wia will supply 100 units of plant automation machines until the end of this year. The machines will be used to make car parts.
Starting with the knuckle processing lines for passenger and commercial cars, Hyundai Wia will also supply automation machines for drum brake lines.
The Tri-Ring Group is an auto parts maker in China with annual sales of about 3.1 trillion won ($2.58 billion). It supplies parts to such global carmakers as BMW and Audi.