Incheon, Korea -- Swiss auto parts maker Autoneum – supplier to Ford, BMW and Honda - and Korean company SH Global have set up an automotive components company in Korea.
The new company, Autoneum Korea was jointly established with the Korean auto supplier the minority shareholder.
Autoneum ceo Martin Hirzel said: “With the opening of our new site in South Korea and the resultant opportunities to work with Korean automobile manufacturers in their home market, we are rounding off our existing broad customer portfolio, which includes almost every automobile manufacturer worldwide.
“Expanding our global presence will also help us to enhance our market share in Asia.”
The product range includes engine covers, underbody shields, heatshields and carpet systems from the vehicle development and prototype stage, said the press release from Autoneum.
According to the press release, the South Korean automotive market produced 4.5m light vehicles in 2013, making it Asia’s third largest automotive market after China and Japan.
Autoneum is keen to develop partnerships with Korean manufacturers on global production platforms, the release said.
The serial production of the components will take place at the facilities of the Korean partner SHG in Incheon and Daegu. Autoneum has been in partnership SH Global in South Korea since 2007.
SH Global was founded in 1996 and is based in Iksan, South Korea with domestic offices in Iksan, Gimhae, and Daegu, South Korea. It has overseas offices in Mexico, China, Uzbekistan, and the United States.