CHEONAN, South Korea—ContiTech DaeWon Air Springs Ltd. is expanding its presence in Cheonan.
The joint venture is opening a production site in approximately 54,000 square foot facility, with projected annual production of 180,000 air springs.
ContiTech DaeWon said it invested about $5.13 million in the new facility. The joint venture previously was housed in a rented factory. It employs 22.
The firm said the building took less than six months to construct, and the inauguration aligns with the 10th anniversary of the joint venture between ContiTech and DaeWon Kang Up.