"We will try to provide the best products to Korean customers at the earlist possible time. We will also open markets in Southeast Asia. As we secured large tracts of land for the plant, we will consider capacity expansion sooner or later."
Alrik Danielson, CEO and president of Hoganas AB, the world's largest producer of powdered metals, said this on January 22 in an interview with the Korean Economic Daily before attending the completion ceremony of its Busan plant to be held on the 23rd.
Established in 1797 in southern Sweden, Hoganas has customers in metallurgical industries with operations all across the world including China, Germany, Austria, Switzerland, and Japan. With 20 employees, the Busan plant aims to make a sales revenue of 70 billion won this year.
"Up until now, Hoganas Korea has mainly engaged in importing metal powders for customers such as Hyundai Motor and Kia Motors and their partner firms. Once the Busan plant is up and running, we will be able to customize our products to the needs of customers. The time it takes to deliver goods will also be reduced to a week from as much as three months," he added.
He further said, "Busan will be the centerpiece of our Asian strategy. After the demand from Japan, Taiwan, and other Asian markets rises, we will set out to expand the plant in Busan within three years."