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South Korean firms investing in China’s automotive plastics sector



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Despite China’s cooling economy including a automotive market, South Korean suppliers are stability to deposit in that nation to keep adult with latest trends.

Automotive compounder Kopla Co. Ltd. is investing $45 million to build a prolongation bottom in Changshu, China. The Siheung, South Korea-based association has recently sealed an agreement on a project, according to an Oct. 14 proclamation from a Changshu New Hi-tech Industrial Development Zone.

Kopla will build a 25,000-square-meter trickery in Changshu to furnish high-performance combination materials for a automotive industry. It anticipates 1 billion yuan of annual sales from a plant once prolongation starts.

The association also will set adult a RD core in Changshu and work on new product growth projects with vital OEMs including General Motors, Hyundai and Kia, a matter said.

Ulsan, South Korea-based automotive rust Hanil E-Hwa Co. Ltd. also is building ability in China, with skeleton to deposit $33 million in an interior tools production trickery in Cangzhou, in Hebei province. The Cangzhou internal supervision announced a plan final month and expects a trickery to strech ability of 250,000 sets of interior tools annually.

Incheon, South Korea-based Top Metal Works Co. Ltd. is co-investing $13 million with Shanghai Yongli Belting Co. Ltd. to build a corner try injection frame plant, also in Cangzhou. The bureau will make interior panels, doorway panels and beams for Hyundai’s arriving public plant in Cangzhou.

The Hyundai Cangzhou plant started construction in Apr and is approaching to launch by a finish of subsequent year. It has combined a flurry of investments by the suppliers such as Hyundai Mobis Co. Ltd. and Hyundai Dymos Inc.

Article source: http://www.plasticsnews.com/article/20151020/NEWS/151029982/south-korean-firms-investing-in-china-s-automotive-plastics-sector

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