ContiTech DaeWon invests in South Korean site

ERJ staff report (TP)

Cheonan, South Korea – The joint venture ContiTech DaeWon Air Springs Ltd. is further expanding its presence in Cheonan with its own production site in a new industrial complex.

The 5,000 square metres of space will enable an annual production capacity of 180,000 air springs. The inauguration coincides with the tenth anniversary of the joint venture between ContiTech and automotive supplier DaeWon Kang Up.

"The new building clearly says something about the future of our joint venture," said Hannes Friederichsen, head of ContiTech Air Spring Systems. "We have been working together successfully for ten years and have achieved a strong position on the Korean market. With a factory of our own, we intend to further expand the relationships we already have and tap into new business as well."

ContiTech DaeWon has been producing air spring systems in Cheonan since November 2003. They are used in commercial and rail vehicles, as well as in other sectors of industry. Key customers include leading automotive manufacturers like Hyundai, Kia, and Daewoo Bus.

Together ContiTech and DaeWon Kang Up have invested about €3.7m in the new building. Currently 22 employees work at ContiTech DaeWon.

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Press release from ContiTech