Breitenwang/Reutte, 14th October 2014 – The Plansee Group is building a new plant in South Korea. Today, Plansee and the political representative of Gyeonggi-do province signed a corresponding memorandum of understanding in Reutte.
The Governor of the Korean province Kyung-pil Nam and Bernhard Schretter, member of the Executive Board of Plansee Holding AG, signed a memorandum of understanding relating to the purchase of the necessary land and the construction of a building providing 2,500 square meters of production and office space.
“With this new construction on the doorstep of our key customers, we are emphasizing our long-term commitment as a supplier to the semiconductor and display industry in South Korea,” explained Schretter. The new company building should be ready to move into in 2016.
According to Kyung-pil Nam: “The Dongtan High-Tech Industrial Complex, where Plansee has decided to invest, is an optimal investment destination since it houses many outstanding electronics companies, R&D centers and human resources. We promise to do our utmost to provide all necessary administrative support so that Plansee can successfully carry out its investment.”
In total, Plansee is investing ten million euros in the project. According to Schretter, “this investment is a vital step in ensuring our continued growth in South Korea.” Furthermore, Plansee has decided to merge its existing Korean production and sales sites in the new development and is expanding its production capacity.
About the Plansee Group
With the divisions Plansee High Performance Materials, Global Tungsten & Powders (GTP) and Ceratizit and the investment in Molymet, the Plansee Group belongs to one of the worldwide leading powder metallurgical industrial groups that covers the whole supply chain of the high-tech materials Molybdenum and Tungsten – from ore processing to the production of customer-specific components.
In the 2013/14 fiscal year, the Plansee Group realized consolidated sales of 1.2 billion euros and employed a total of 6,060 people worldwide.
The fiscal year ends on the last day of February.