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The Sunil Dyfas company of Korea and SFS intec will cooperate on the Chinese market in future. For this purpose SFS intec will acquire a 50% interest in the Chinese subsidiary of Sunil Dyfas in two stages by the end of 2009.
Sunil Dyfas is based in Jincheon, approx. 80 km south of Seoul. The company manufactures formed parts and engineered fasteners primarily for the Korean auto¬motive industry. In 2007 Sunil Dyfas generated sales of 90 million US dollars with almost 300 employees.
The new joint venture is based in the large city of Tianjin. It will trade under the name of Sunil SFS intec Automotive Parts (Tianjin) Co., Ltd., and at present employs a workforce of approx. 130. The production programme consists mainly of engineered fasteners for the automotive industry. The joint venture will be managed by the existing executive team headed by Mr Tae-soon Choi.
This cooperative venture provides SFS intec with access to a manufacturing base in China. This is an important precondition for intensifying business relationships in this region of the world with our customers operating internationally.
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