Valeo Pyeong Hwa Co., Ltd. Business Report up until FY ended Dec. 2014
Financial Overview |
(in millions of won) |
| FY ended Dec. 31, 2014 | FY ended Dec. 31, 2013 | Rate of change (%) | |
| Sales | 467,759 | 445,259 | 5.1 |
| Operating income | 16,670 | 17,174 | (29.1) |
| Net income | 13,677 | 17,372 | (37.9) |
New facilities
-In October 2013, the Company held a completion ceremony for its Secheon Plant and R&D center constructed in the Seongseo 5th Industrial Complex, Dalseong-gun, Daegu, Korea. The Company has invested approximately KRW 41 billion in these facilities. The new clutch plant and the technology center are expected to increase the company's annual sales to KRW 600 billion by 2015 from KRW 449 billion generated in 2012. (From a press release on October 28, 2013)
-The Company said it will mass produce dry dual clutches at its Daegu Plant, starting in October 2013. The company is now constructing a new research building, which is scheduled for completion by May 2013. (From a press release, February 15, 2013)
Corporate Spin-off
-In May 2008, the Company established VPHI in Daegu through a spin-off. VPHI handles sales of products manufactured by the Company.
R&D Structure
-In May 1989, the Company opened a R&D center.
Technical Agreement (licensing-in)
-The Company and Valeo S.A. of France concluded a technical agreement under which the Company can license-in Valeo's advanced technology to manufacture clutch discs and other products.