SeAH Metal to Build Automotive Parts Plant in China

摘要

SeAH Metal, a local maker of stainless steel wire and rack bars which are used as parts of automotive steering gear, plans to construct a new plant for the production of automotive parts in China. SeAH Metal said that it has recently decided at the board of its directors to make the new facility investment in China and thus, it will make a contribution of 30 million US dollars to establish its local subsidiary, SeAH Automotive Co. Ltd., in China and build a new plant on site of about 33,000 sq. meters at an industrial complex at Nantong near Shanghai under its policy to secure an overseas production strongpoint of the company in China and strengthen its global management system. According to the SeAH Metal's timetable, it will break ground in October this year for the construction of its new plant in China which will be completed by April 2008 and go on-stream in May 2008.