■ LS Group Chairman John Koo, LS Mtron Vice Chairman & CEO Christopher Koo, and LS Mtron VP Jae-sul Shim attend the ceremony
■ Constructed with a cost of USD 30 million on 66,116m² site in 2-year project to produce 35,000 tons of castings a year
■ Produce high value-added products such as ship engines, injection molders, and power generation machines
Seoul, Korea, November 26 - in Dalian , Liaoning Province , China, Casco Co. (CEO Hyeon-ik Sin), LS Group’s affiliate specializing in castings, held the ceremony of completing a foundry which produces high value-added products such as ship engines.
Attending the ceremony were 200 or so personnel including Dalian Vice Mayor Dai Yulin (戴玉林) and other officials, LS Group Chairman John Koo, LS Mtron Vice Chairman & CEO Christopher Koo, LS Mtron Vice President Jae-sul Shim, Samyang Heavy Machinery CEO Hyun-dong Moon, Doosan Engine Vice Chairman Nam-doo Lee, and Casco CEO Hyeon-ik Sin.
Erected on a site 66,116m² with a cost of USD 30 million in two year project begun in November 2006, Casco’s Dalian plant is equipped with innovative facilities with an annual maximum capacity of producing 35,000 tons of castings. The plant aims to penetrate the rapidly growing machinery and shipbuilding markets in China. The plant manufactures chiefly high value-added products such as ship engines, injection molders, and power generation machines.
The Chinese castings market, driven by castings for automobiles and industrial machines, is expected to grow at a high rate of over 8% annually in the next five years. Casco CEO Hyeon-ik Sin said, “Casco’s Dalian plant, using its distinctively high quality and productivity, aims to achieve sales of USD 30 million in 2009, and USD 50 million in 2012. In particular, in the Chinese ship castings market where an absolute supply lack is expected, we aim for a 30% market share within five years.”
Established in 2005 in a joint venture of LS Mtron, Samyang Heavy Machinery, and Doosan Engine, Casco Co. is Korea’s No. 1 castings manufacturer.
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