Iran Khodro, Peugeot Joint Venture Company begins work
Tehran, June 21, IRNA – Iran Khodro and Peugeot joint venture company named 'IKAP' kicked off its work in presence of Minister of Industry, Mine and Trade Mohammad Reza Nematzadeh and after introducing Board of Directors.
They finalized 17 subsidiary contracts in line with the cooperation protocol. The founding members of IKAP convened and the procedure for operation of the new company was signed by Managing Director of Iran Khodro Hashem Yekke-Zare and Deputy Managing Director of Peugeot-Citroen Company Jean-Christophe Quemard. They signed 17 subsidiary contracts in line with the cooperation protocol between the two carmakers. They finalized and the process to register the company will begin from Wednesday. Morad Majlisi has already been appointed as managing director of new company 'IKAP'. Preliminaries of the new contract for cooperation between industrial groups of Iran Khodro and Peugeot of France were signed by directors of both companies during visit of President Hassan Rouhani to Paris last February and since then necessary measures were adopted to enforce the contract.