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Article: S. Korea press makers investing in China.(News)
- Article from:
- Plastics News
- Article date:
- April 17, 2006
CopyrightCOPYRIGHT 2006 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Steve Toloken
South Korea's injection press industry is making significant investments in mainland China, as it tries to get a foothold in that market and find a way to lower its costs to compete with its neighbor's developing industry.
Jinhwa Glotech Co. Ltd., for example, is spending $10 million to triple the size of its facility in Ningbo, China, this year and give it capacity to make 500 injection molding presses a year.
Other large competitors have made similar moves: LS Cable Ltd. opened an injection press plant in Wuxi, China, in November, and Woojin Selex Co. Ltd. finished ramping up its own Ningbo plant in the second half of ...