1st-Class Automobile Parts Company Metaldyne Lands in Gyeonggi-do 
– Metaldyne completes the Pyeongtak Plant on April 21 to “Upgrade the Korean automobile industry.” 
– 150 persons including the CEO Tim Leuliette and the Provincial Governor Hak-gyu Sohn attended the event. 

A world-class automobile parts company Metaldyne is entering the Korean automobile industry. Metaldyne hosted a completion ceremony for the “Metaldyne Korea” Plant in Eoyeon – Hansan Foreign Industrial Complex in Pyeongtak on April 21. Approximately 150 persons including Metaldyne CEO Tim Leuliette, the Gyeonggi Provincial Governor Sohn Hak-kyu, and the Pyeongtaek Mayor Sohng Myeong-ho attended the event. 

Metaldyne of which the headquarters is in Polymers, MI, US, is an MNC with distinguished technology might in the metal automobile engine, drive line, sash, system, and module sectors. 

The company decided to increase its investment on the Korean automobile parts market as it had seen a steady growth in purchase volume (\53 billion in 2004) from Korean automobile makers since it opened an office in Ansan, Gyeonggi, in 1999. Participation in the new engine development project by Hyundai Motors had a reinforcing effect in building of a local plant. 

Metaldyne has invested \25 billion in Korea since its entry. It hopes to increase the sales revenue of \48 billion in 2006. A company official added, “The company plans to invest \30 billion more to expand the new engine-related parts production.” 

It will heighten the R&D capacity in Korea to better meet the expectations and needs by Korean automobile companies requesting for technology support services. 

Vice-president Miramo Land of Metaldyne stated, “We are very excited about the Metaldyne Korea Plant Completion. Pyeongtaek will become the hub of technology and production of Metaldyne, and I hope that there comes about astonishing development.” 

The Gyeonggi Provincial Governer Hak-gyu Sohn said, “I sincerely congratulate completion of the Metaldyne plant in Korea. I would like to express my heartfelt respect for the company’s role as an automobile parts company. I anticipate that Metaldyne will greatly contribute in heightening the stand and market share by Korean automobile companies control in the international stage.” 

A part of the plant with the floor space of 1,600 pyeong was built over the 9,000 pyeong-land within Eoyeon – Hansan Industrial Complex in September 2004. The production work for balance shaft module for the 2.0/2.4L theta engine of Hyundai NF Sonata has already begun.