HEILIGENHAUS, Germany, Feb. 21, 2017 /PRNewswire/ -- Kiekert AG, the technology leader in automotive locking systems, is opening a new joint-venture facility to produce door-closure systems in South Korea with KwangJin Sanggong Company Ltd.
Located in Hwaseong-si in the province of Gyeonggi-do, the new facility operated by KKL Ltd. (KwangJin Kiekert Latch) will have 120 employees and the capacity to produce door-closure systems for a major South Korean auto manufacturer.
Ribbon-cutting ceremonies to officially open the plant took place in mid-February. Kiekert and KwangJin Sanggong each hold a 50 percent share in the new company.
"This joint venture complements the technology and manufacturing expertise of each of our two companies," said Kiekert CEO Dr. Karl Krause. "It also supports Kiekert's global growth strategy."
Dr. Krause noted that Kiekert has decades of expertise in the development and production of automotive locking systems, as well as actuators for vehicle doors, liftgates and hatches. KwangJin develops and produces door modules and window lifters and has long-standing business relationships with Korean car manufacturers.
Krause added that production processes at the new facility will set new benchmarks for the manufacture of industry-leading lightweight locking systems. The company, for example, has reduced the weight of its locking systems by as much as 50 percent over the past two vehicle generations.
About Kiekert AG – www.kiekert.com
Based in Heiligenhaus, Germany, Kiekert AG was founded in 1857 and is the worldwide market leader in automotive locking systems. With more than 6,000 employees in 10 countries, as well as eight production, six development and three sales centers, Kiekert develops, produces and sells tailor-made customer solutions. Turnover for the 2015 business year was 825 million euros and rose to more than 870 million euros in 2016. In 2017, Kiekert celebrates the company's 160th anniversary.
As the lead engineering and program management center for the NAFTA region, Kiekert's Wixom location and its sister plant in Mexico are responsible for nearly $200 million in annual revenue. Today Kiekert has a market share of 25 percent in the NAFTA region.
About KwangJin Sanggong Company Ltd. – www.kwangjin-kr.com
KwangJin was founded in 1973. The Korean automotive supplier employs 3,000 people. In 2015, KwangJin generated sales of around 710 million euros. With 17 locations worldwide, KwangJin is a globally active automotive supplier.
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SOURCE Kiekert AG