2011-05-19 00:00:00
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South Korean industrial conglomerate Samyang has launched a €10m engineering plastics compounding plant in leased premises in the city of Jászberény in eastern Hungary.
The Seoul-based group’s chemicals subsidiary located its first manufacturing operation in Eastern Europe in a 5,740m2 industrial unit at the Jászberény site of Hungarian automotive and electronics components moulder Jász-Plasztik.
Samyang EP Hungary is well situated to serve major multinational customers including the Korean electronics giant Samsung, which has plants nearby in Jászfényszaru and in Poland and Slovakia.
Samyang, whose chemicals division also produces and recycles PET bottles, will turn out up to 10,000 tpa of polycarbonate and PBT (polybutylene terephthalate) based materials at the new unit. But the local subsidiary is reported to be planning to double the plant capacity by 2013.
Initially the Hungarian plant has employed a workforce of 60 along with a number of Korean managers. It will produce material on three lines for components for monitors and LCD TVs injection moulded by its neighbour Jász-Plasztik for Samsung. Samyang material will later be used for production of automotive parts.
In 2008, Jász-Plasztik, a privately owned national company already ran more than 150 injection presses, ranging from 20 to 3,200 tonnes each, supplied by Engel and Mitsubishi. The firm manufactures battery components and assembles batteries.
The Samyang operation is the first stage of further foreign development, especially in Eastern Europe, planned by the South Korean group. The group already has another engineering plastics manufacturing plant in Shanghai, China with a similar capacity. Its chemical division is based in the South Korean city of Chongno-gu.
Up to 2015, Samyang Corp. says in the chemical area, it plans to focus on high-value-added, high-growth materials and will secure sustainable growth platforms and global manufacturing foundations so as to create bigger customer value.
Last year, the group’ chemicals offshoot posted revenues of around $300m, a fifth of which was represented by its engineering plastics business. |