Crouse, Continental Sign JV Contract , Third Largest Auto Parts Supplier To Invest in Iran

After years of cooperation in manufacturing automotive parts, Irans Crouse and Germanys Continental signed a joint venture agreement to expand their activities in the Iranian market. Continental is a tier 1 automotive parts supplier and the third largest company in the automotive parts industry by revenue. Crouse and Continental have experienced years of cooperation for manufacturing engine parts. Crouse had long been interested in strengthening the business relationship between the two companies, and following the JCPOA nuclear deal which effectively removes all sanctions, both companies agreed on a joint venture company for manufacturing ECU and ETC and other powertrain solutions in Iran. Crouse owns 55% of the newly formed company.