Korea: Hyundai Mobis announces investment

摘要

HYUNDAI Mobis plans to invest Won 298.7bn (US$307.10m) abroad for global expansion in 2006, 68% more than its investment last year. The supplier is targeting domestic sales of Won 8.1tr (US$8.32bn) and operating profits of Won 882.5bn (US$906.71m). The company also plans to enter the high valueadded components business like motor-drive power steering systems. It is targeting module sales of Won 5.45tr (US$5.60bn) this year, a 6.5% increase from the last fiscal. The company also seeks a qualitative competence growth in 2006 by lowering its debt ratio to 76.1%.