Swedish Company “Höganäs” invests in the BJFEZ

Tag: BJFEZ, busan, citynews, Höganäs, investment, korea, Swedish Company

-Busan-Jinhae Free Economic Zone Authority and Höganäs of Sweden signed a MOU of USD $13 million on July 19, 2012.-

BUSAN, South Korea - On July 19, 2012, Commissioner Ha of BJFEZ Authority and Höganäs enterprise from Sweden signed a MOU of USD $13million at BJFEZ Authority office. Höganäs enterprise will construct a manufacturing plant at the foreign investment zone of Mieum Industrial complex on a land of 11,000m².

The “Höganäs” was established back in 1797 at Sweden, and now as a global company they are manufacturing the metal powder with the annual sales over USD $1 billion.

Höganäswill produce the Metallic compounds which are used in reducing the weight of auto parts and shipbuilding equipment with high intensity. This product is rare in the global market, and this will enhance the technical level of auto and shipbuilding industries here in the Busan and Gyeongnam area.

Specially, for auto industries which are trying to produce energy efficient vehicles focusing on the light and stronger engine development, thus reducing the waste gas emission, this will greatly benefit the both Höganäs and auto industries in the area.

Source: www.bjfez.net

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