- Information Center
- Investment News
Robit Plc, a Finnish drilling consumables manufacturer with global operations, has taken a big stride forward in the Asian market by completing a regional production hub in Korea.
The company said it began operations of its new Hwaseong plant in Gyeonggi Province after a ribbon-cutting event held on Thursday.
The plant has floor space of 21,250 square meters and comprises a production site (10,000 square meters) and a research building. Robit will develop and produce high quality button bits for rock drilling and casing systems for ground drilling for Korean and other Asian markets.
"The new plant is fully automated with solutions provided by Swiss engineering giant ABB, a leading factory automation company,” said a company official. Products will be rolled out in a stable and consistent manner with the latest automation systems such as button insertion by a robot and automatic painting lines.
Robit’s Korean operation reported 26 billion won ($23.8 million) in sales last year and expects the new plant to create 94 new jobs and increase revenue by about 20 percent.
In September of last year, Robit signed an MoU with the Gyeonggi provincial government to invest a total of $10 million in Korea.
By Ji Hong-goo and Minu Kim
Copyrights Pulse by Maeil Business News Korea. All Rights Reserved.
Source: Pulse by Maeil Business News Korea (Feb. 9, 2018)