Published on : Oct 21, 2015
Kopla Co. Ltd., automotive compounding is set to invest US$45 million to construct a production unit in Changshu, China. This move comes in despite the slowing economy of China. Changshu New & Hi-tech Industrial Development Zone stated that an agreement to this effect was signed on October 14th this year.
Kopla plans to construct a facility that will spread over 25,000-square-meter in Changshu. The company plans to use this facility to make high-performance composite materials that are required in the automotive industry. For now, Kopla is predicting an annual sale of 1 billion yuan once the production commences.
Along with a production facility, Kopla also plans to set up a research and development facility in Changshu. This department will focus on developing new products with big OEM such as Hyundai, General Motors, and Kia.
In a similar move, Hanil E-Hwa Co. Ltd., a South Korea-based automotive molder is also going to construct a facility in China. To see this plan through, the company plans to put in an amount of US$33 million in the Hebei province of Cangzhou. The local governing body of Cangzhou announced this project last month. The facility is expected to reach a capacity of 250,000 units of interior per year.
Top Metal Works Co. Ltd., another South Korea-based company is putting in an investment of US$13 million to form a venture with Shanghai Yongli Belting Co. Ltd. This collaboration will work towards building an injection molding plant in Cangzhou. This unit will make door panels, interior panels, and beams for Hyundai’s new assembly line in Cangzhou.