SOUTH KOREA: Hyundai Mobis aims for top 10
Hyundai Mobis aims to reach 15 trillion won in sales by the year 2010 and become one of the global top 10 auto parts makers, the Korea Herald reported on Friday.
Mobis reported 6.4 trillion won in sales last year, up 121% from 2001, the first fiscal year after the company took its current name in November 2000.
Mobis saw 750 billion won in operating profit and 690 billion won in net profit last year. It plans to invest 407.6 billion won this year, targeting sales of 6.8 trillion won.
Last year, the domestic automotive parts industry saw estimated sales of 34.55 trillion won, up 7.5% from 2003.
More than 900 companies raked in 6.76 trillion won ($5.9 billion) in exports, 25.71 trillion won in domestic sales of assembly parts and 2.08 trillion won in aftermarket sales of parts, according to the Korea Auto Industries Coop. Association.
Hyundai Mobis is mainly involved in the development and manufacture of modules and auto systems, sales of assembly parts and aftermarket parts made by both Hyundai Mobis and other OEMs.
In terms of sales in 2003, Mobis ranked 20th among Korean companies and 27th among automotive parts makers worldwide, the Korea Herald said, citing Fourin, Inc., a Japanese researcher of the global auto industry.