CHENNAI: Auto components maker Wheels India Ltd on Monday said it has signed a significant technical agreement with South Korea's SHPAC, a hydraulics cylinder manufacturer, for technology transfer in manufacturing.

Srivats Ram, MD, Wheels India said, “It has been our stated intent to focus and grow the hydraulics cylinder business significantly over the next few years. We believe this business segment has potential to be an important growth driver for Wheels India globally. Wheels India has been expanding its presence in Europe and North America. We expect to leverage the technology transfer by accessing existing customers and will continue to invest in the hydraulic cylinder business as opportunities arise.”

Srivats said, “SHPAC has a successful track record over the last few decades i

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