Malaysia car maker Proton forms Iran joint venture


KUALA LUMPUR, Oct 29 (Reuters) - Malaysia's top car maker Proton said on Wednesday it signed a deal in Iran to tap growth markets in the region, as it tries to offset what is set to become a challenging domestic market. State-controlled Proton has about 60 percent of the Malaysian car market but it benefits from protective tariffs which will be removed by 2005 under a Southeast Asian free trade pact. Proton, or Perusahaan Otomobil Nasional Bhd, signed a 15-year agreement with Automotive ...

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