By John Lee.
The Financial Tribune reports that the Belgian firm Punch Powertrain has opened a factory to make continuously variable transmissions (CVTs) in Zanjan, northwestern Iran.
The company will have an 80-percent ownership of the plant, with Iran’s Industrial Development and Renovation Organization (IDRO) taking 20 percent.
160,000 automatic gearboxes will be manufactured in the first phase, reaching 500,000 units in the final phase.
(Source: Financial Tribune)