Robit Plc’s CEO, Mika Virtanen and the Governor of Gyeonggi-Do, Nam Kyung-Pil signed a Memorandum of Understanding on 15th September concerning Robit Plc’s major productional investment in the Foreign Investment area in Gyeonggi-Do, South Korea.
Robit Plc disclosed in its company release published on 23rd March 2017 of a major productional investment, through which the company will significantly increase its Top Hammer product line’s rod and shank manufacturing capacity in South Korea. The management of Robit Plc believes that the investment in the new production facility will significantly increase the automation level of the production of rod and shank products. The throughput time will also be significantly shortened, which improves the delivery capability and service level to customers.
The new production facility is being built close to Seoul to further improve logistical connections. The company estimates that the total investment related to the production facility is approximately EUR 10 million. Production in the new facility is preliminarily estimated to start in the beginning of 2018.
Mika Virtanen, Group CEO