Geislinger, an Austrian top-tier supplier of engine parts, is to open its first manufacturing plant in Busan to facilitate supplies to local shipbuilders.
The factory, located in the Mieum Industrial District, will begin operation next Monday and start producing couplings and dampers, according to officials.
“The new plant is part of our localization strategy for top clients in Korea, so that they may save logistics and supplementary costs,” said company spokesperson Lee Mi-gyeong.
Major clients for Geislinger include the nation’s top shipbuilder Hyundai Heavy Industries, as well as Doosan Engine and STX Engine.
Geislinger’s first factory in Busan
The Salzburg-based company invested a total of $10 million in the facility since it clinched an agreement with the Busan local government early last year.
The deal marked the largest project involving an international company since the southern port city became a foreign investment zone, according to city officials.
The new building in Busan emphasizes the importance of the South Korean market having a key position, especially in the international marine and power plant sector.
Geislinger South Korea was founded in 2001 with the goal of minimizing reaction and delivery times, as well as improving customer service.
Geislinger, a global leader in the field of torsional vibration dampers for heavy duty applications, is an Austrian family-owned company, which was founded in 1958 by Leonhard Geislinger.
It is now in its third generation under the leadership of Cornelius Geislinger (CEO) and Matthias Geislinger.
It is one of the world’s leading producers of torsion vibration dampers, torsion elastic, high-damping couplings and other key heavy application parts required in mining, shipbuilding, and power generation.
By Bae Hyun-jung (
tellme@heraldcorp.com)