Daechang Metal’s MBS (Main Bearing Supporter)
CEO Mr. Park, Jeong Ho understands “world-class shipbuilders are all stationed here in Korea, so it is no surprise that Korean companies are dominating the market today.”
His company Daechang Metal, founded in 1953, is based in Busan, Korea’s second largest city. Its main item is MBS (Main Bearing Supporter) which absorbs impact caused by external forces and is a critical part of large ship engines. It also has one major contribution to Daechang Metal’s continuous growth for years. Holding a No.1 position of 60% market share worldwide followed by SAMYOUNG M-TEK with 32%, the company recorded its total revenue of USD 78 million last year. In 2012, it is expected to reach around USD 81 million.
MBS, a steel-casting product, supports a marine engine crankshaft. For this, it requires careful design, high quality, and durability that would endure repetitive mechanical forces.
He had pride in his eyes when he stated “everyone in Busan will never hesitate to say that the No.1 quality manufacturer is Daechang Metal.”
Japan’s Toshiba, IHI(ISHIKAWAJIMA-HARIMA Heavy Industries Co.,Ltd), and France’s Alstom even asked for production outsourcing. Major global corporations such as Hyundai Heavy Industries, Doosan Heavy Industries, STX, HITACHI and etc., are also in close partnership with Daechang Metal.
Meeting customers’ needs, Daechang Metal has maintained the No.1 position thus far, and customers don’t mind paying an average 10% more since they know they are getting their “won’s” worth. The company exports 30% to several Asian markets like China and Japan (nearly 25%) and is planning to explore and diversify target markets.
Marine Plant Items
Starting this year, he has another ambition in mind: “now it is time to prepare our future business, and by going further into a marine plant field, Daechang Metal’s future value will increase.”
He continues “the Marine Plant has been selected as a New Growth Engine Business, and with our various casting methods, we already kick-started the development of new products.”
Cross Arm is one new item from Marine Plant; this chain is supposed to fix a marine plant below sea level. Casted special alloys will be effective against corrosion and shows excellent durability. Its price is about 20% less than others. There are also other Maine Plant products in progress.
You can visit http://www.dcm.co.kr/ for more information.
Daechang has been selected as the KOTRA Seal of Excellence since 2010.
