Malaysian automotive leather specialist DK Leather Corp Bhd is reported to have sold its DK-Schweizer Leather Trim division for RM494 million ($130 million).
The purchaser is the US custom interior specialist Katzkin Leather Inc. which, as part of the same agreement, has agreed to take leather products worth RM100 million from DK over the next three years. It will also act as sole US distributor of the DK-Schweizer brand of automotive products.
DK says that as a result of the agreement, it is now expecting to double its US leather upholstery sales to more than RM30 million a year. DK Leather is one of Malaysia’s largest suppliers of automotive leather, supplying Proton, Hyundai, Kia, Perodua, Ford, Volvo, Mitsubishi, and Honda.
