Kolon Industries will construct a brand new airbag cloth manufacturing plant in Ho Chi Minh Metropolis, Vietnam, to increase its automotive supplies enterprise.
Kolon Industries introduced on Dec. 11 that it signed a further airbag materials provide contract with Autoliv on Dec. 8. This contract is a follow-up measure to the memorandum of understanding (MOU) concerning airbag provide cooperation signed in April.
Underneath this provide partnership, Kolon Industries plans to construct a cloth manufacturing plant in Ho Chi Minh Metropolis, Vietnam. The funding quantity is estimated at roughly 70 billion received.
Autoliv is the world’s largest automotive security components producer, supplying key merchandise associated to car security comparable to airbags, seat belts, and steering wheels to world automotive firms. It operates 65 enterprise websites and 13 analysis and improvement (R&D) facilities in 25 international locations worldwide.
Kolon Industries has been producing airbag cushions at its Vietnam plant. With this funding, the Vietnam plant might be outfitted with weaving, processing, and coating amenities, establishing a manufacturing system that covers every thing from cloth to cushions. Till now, airbag cushions have been made utilizing cloth produced in Korea and China.
The brand new plant will start business operations in 2028. It’ll function with the aim of manufacturing stabilization and quantity improve till 2029, and from 2030, when full-scale supply begins, the Vietnam new plant alone is predicted to generate annual gross sales of greater than 50 billion received.
Heo Seong, president of Kolon Industries, mentioned, “The conclusion of this long-term provide contract implies that Kolon Industries’ automotive materials components enterprise capabilities are being acknowledged within the world market,” including, “We’ll provide world-class airbag supplies to Autoliv, one among our most necessary prospects.”
Christian Swan, govt vice chairman of Autoliv, mentioned, “Kolon Industries is a worldwide airbag producer with manufacturing bases in Asia, China, and North America, and is one among Autoliv’s most trusted companions,” including, “We sit up for persevering with our cooperation sooner or later.”
