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British Company Builds Auto Parts Production Research Center in Songdo

According to Yonhap News,

(INCHEON=Yonhap News) Incheon City announced November 2 that it has signed an investment agreement with British company HellermannTyton to build an automobile parts production research center in the Songdo International Business District.

HellermannTyton plans to construct a new office on 4,160.4 ㎡ in the Knowledge and Information Industrial Complex in Songdo and produce goods from the second half of next year.

HellermannTyton’s Korean branch, established in Gyeonggi Province in 2002, will be integrated into the new office in Songdo.

"The automobile parts industry is one of the eight strategic businesses of the city. We will develop Incheon as the Asian hub of automobile parts through attracting global companies, including HellermannTyton,” said a city official.

HellermannTyton, the world’s leading cable management product manufacturer, has 34 branches worldwide. Since its establishment in 1933, the company has been listed on the London Stock Exchange, has 3,300 employees and recorded sales of about KRW 831 billion in 2013.

HellermannTyton’s major Korean customers include GM Korea, Renault Samsung Motors and Ssangyong Motor.

Copyrights Yonhap News. All Rights Reserved.

Source Text

Source: Yonhap News (November. 02, 2014)

** This article was translated from the Korean.
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