7/30/2015 12:04:00 AM
NEWS BRIEFS
ARaymond Begins Production in South Korea
ARaymond announced it has begun producing fasteners in South Korea.
The French fastener manufacturer has had a sales office in South Korea since 2006 and its new plant in the city of Hwaseong-si commenced production in June.
“The automotive sector in Asia continues to grow and is a key strategic market for ARaymond, which accounts for 20% of the global market for fasteners,” the company stated.
According to the Korean Automobile Manufacturers Association, South Korea’s car market will grow by 2.5% in 2015 to 1.65 million units.
ARaymond will supply “a variety of assembly solutions and metal and plastic fasteners” for car interiors and engines, particularly for cooling and fuel supply systems, for such automotive brands as Hyundai, Kia, GM Korea, SSangyong Motor, Renault Samsung, Doosan and Zyle Daewoo Bus.
“ARaymond has always sought to be close to its customers and since the automobile industry in Asia continues to experience strong growth, opening this factory is a natural next step for us and reflects our desire to continue to expand on the continent,” said CEOAntoine Raymond. “We don’t delocalize the manufacture of our parts, but instead produce locally for the domestic market.”
ARaymond has been operating in Asia since 1996, when it opened a plant in China, followed by Japan in 1997 and India in 2007. Capacity at the Japanese facility was increased last year, while new branches in Thailand and Singapore opened in February of this year.
Besides Asia, the company’s primary markets are Europe and the U.S.
Founded in 1865, the ARaymond Network has 5,500 employees in 25 countries, 11 R&D centers and 25 production sites, with a global turnover of EUR 930 million. About 95% of sales are from the automotive industry and 87% from international markets.
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