ContiTech DaeWon Invests in Korean Site
Successful ten-year joint venture between ContiTech and DaeWon Kang Up / 5,000 square meters of new space offers capacity for new business
(PresseBox) - ContiTech DaeWon Air Springs Ltd. is further expanding its presence in Cheonan. The joint venture is opening its own production site in a new industrial complex. The 5,000 square meters of space here will enable an annual production capacity of 180,000 air springs. The new building took less than six months to construct. The inauguration falls together with the tenth anniversary of the joint venture between ContiTech and automotive supplier DaeWon Kang Up. "The new building clearly says something about the future of our joint venture," says Hannes Friederichsen, head of ContiTech Air Spring Systems. "We have been working together successfully for ten years and have achieved a strong position on the Korean market. With a factory of our own, we intend to further expand the relationships we already have and tap into new business as well."
ContiTech DaeWon has been producing air spring systems in Cheonan since November 2003. They are used in commercial and rail vehicles, as well as in other sectors of industry. Key customers include leading automotive manufacturers like Hyundai, Kia, and Daewoo Bus. "We see good opportunities for growth in the Korean market, particularly in the truck and trailer sector and in industrial business," explains Andreas Kattre, managing director of ContiTech DaeWon. "The new factory forms the basis for high productivity and top quality and creates a closer relationship with customers."
The location in the industrial complex offers good road links and easy access for customers and suppliers. Together ContiTech and DaeWon Kang Up have invested about 3.7 million euros in the new building. The joint venture was previously housed in a rented factory. Currently 22 employees work at ContiTech DaeWon.
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News-ID 328257
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