ContiTech DaeWon to expand Korean site

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.

“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 10 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.”

The firm chose the location because it offers good road links and easy access for customers and suppliers.

Air springs produced by ContiTech DaeWon are used primarily in rail vehicles. Key customers include Hyundai, Kia and Daewoo Bus.