RAPIDE CHINA Joint Venture Agreement Signed

Golden Point Auto Care Inc., the company behind Rapide Auto Service Experts, the largest auto service center network in the Philippines recently signed a joint venture agreement with Nanjing Lek Yuen Group, to organize and roll out Rapide (China) Limited. With the aim to expand and initially build a network of Rapide Auto Service centers in Nanjing, China and later in other provinces of China, the President and CEO, Steve Pena-Sy and his wife Jane signed the agreement with Mr. Felix Limcaoco III, Managing Director of Rapide Auto Service Experts and Raul Evangelista,  COO.

Rapide Auto Service Experts, being the largest auto service chain of stores and experienced in aftermarket services, was chosen to partner with the one of the largest diversified companies in Nanjing, China, where the seat of early China’s industrialization started. Rapide has mastered the auto care servicing in the Philippines with almost 60 branches nationwide thus is considered the widest auto service center network in the country today.

Now, it will start to venture into the huge and growing auto service market in China with the same expertise on the auto engine, body repair and paint services through establishing several company owned and franchise stores in key cities of of China.

The joint venture will capitalize on the growing China and ASEAN market cooperation, aiming to highlight a pool of global talents and integrate with its regional brothers.

The agreement was signed at the Old Swiss Inn Restaurant in Makati City by the aforementioned signatories witnessed by GPAC Vice-President and COO Raul Evangelista, GM Byron Lat and other key managers as well as Mr. Esteban Pena Sy, Chairman and CEO of IRC Properties, Inc. for Rapide (China) Limited.