Smederevska Palanka, Serbia – South Korean cables manufacturer Kyungshin Cable is constructing its second European production centre in Smederevska Palanka, with the aim to mass produces ‘eco-friendly’ automotive components for the region by next year.
The company, which broke ground on the plant in May, expects to complete the construction of the €20-million facility by November, said a recent statement by the Korean supplier. .
Once completed, the plant is scheduled to supply parts to “prominent European automakers and Korean battery suppliers by March next year,” the company added.
Spanning over 61,000 square metres, the facility will employ 700 people when fully operational, Kyungshin Cable said.
Based in Incheon, northwestern Korea, Kyungshin Cable is part of Kyungshin Group and supplies cables and wires for industrial and automotive applications. Some of its key clients include Hyundai, Kia Motors, GM and Ford.
In addition to its production sites in Korea, the company operates manufacturing facilities in China, India, Honduras, Poland and the US.
Among other products, Kyungshin Cable manufactures rubber cables and wires for automotive and industrial use, according to the company website.
