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August 21, 2014

SOUTH KOREA: Hyundai Motor to merge three parts makers

Hyundai Motor plans to merge three South Korean manufacturing subsidiaries into a single unit in an effort to streamline operations.

Hyundai Motor plans to merge three South Korean manufacturing subsidiaries into a single unit in an effort to streamline operations.

The three companies are: Hyundai Wia, a maker of machine tools, factory automation, built-up engines and driveline parts; Hyundai Wisco, which manufacture forged engine and driveline parts; and Hyundai Metia, a major supplier of automotive castings.

Hyundai Motor said the three companies will be officially merged on 1st November to help improve efficiency and eliminate operational overlap. A significant part of the business of these three companies is with each other, so the merger will allow for improved integration.

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