ContiTech to make air springs in S. Korea

HANOVER, Germany (July 19)—ContiTech Luftfedersysteme GmbH, a business unit of Continental A.G.´s ContiTech Group, has agreed to set up an automotive air spring joint venture with Dae Won Kang Up Co. Ltd. in South Korea. ContiTech and Seoul-based Dae Won Kang Up Co. expect to establish their joint venture by year-end 2000 and then to build a manufacturing plant to make complete air spring systems. The industrial leadership of the joint venture will be in the hands of the ContiTech subsidiary. Dae Won Kang has virtually 100 percent of the South Korean market for air springs, Conti said.