Horiba to join Schenck-Ricardo joint venture
27 June 2001
Three major players in the field of automotive test systems—Schenck Pegasus, Ricardo plc, and Horiba Ltd.—have joined forces to offer the automotive industry advanced engine testing technologies and turn-key test facilities.
Horiba will join as a third partner Schenck Ricardo Systems Ltd, a joint venture company founded in February, 2001. Operating under the new name of Schenck-Ricardo-Horiba Ltd., the company will develop and market automation systems and measuring technologies for engine test facilities and complete test centers from design and construction to operation.
A letter of intent has been signed by all parties, with a shareholding of 57% Schenck Pegasus, 24% Ricardo plc and 19% Horiba Ltd. The parties agreed that they will combine their expertise and know-how in:
- Test and development systems for engines and powertrain systems (Schenck Pegasus)
- Development of engines, transmissions and vehicle electronics (Ricardo)
- Engine emission test systems (Horiba).
The parties also agreed that each of the member companies will employ the other's business strengths, distribution networks, and development, design and sales forces to leverage its own presence and competence in the market.
Source: Horiba Ltd.