Korean Joint Venture For Mannesmann Sachs

The Korean company Kasco and Mannesmann Sachs AG signed a joint venture agreement. Kasco is a leading manufacturer of automotive components with headquarters in the Pusan area and sales of more than 250 million dollars. The “Sachs Korea Suspension Company Ltd.

” joint venture will take over the shock absorber and pneumatic spring activities from Kasco and supply the Korean car manufacturers. Annual production figures will run at around seven million dampers over the medium term. Sachs owns 70 percent of the company, which has 400 employees.

Sachs subsidiary Stabilus will also establish a subsidiary in Korea. “Stabilus Korea” will manufacture around five million pneumatic springs over the medium term for the East Asian market. Sachs is already active in this large region with two production companies and a commercial enterprise in China as well as two sales subsidiaries in Singapore and Malaysia.